PHILIPPINES is actively taking steps for clean energy development through multiple projects annouced across solar, wind, hydrogen and energy transmission; which is supported by a encouraging policy and regulatory framework for government approvals and clearences. We also see plans to step-up the in-country module manufacturing capacity to meet the growing demand for solar panels. Further, transport sector development remains a key focus with new projects being annouced for rail and port proejcts; including with support from multilateral banks like ADB.
Read more about key developments in Infrastructure and PPPs in Philippines in our country insight.
OCTOBER 2024
CONSTRUCTION WORKS COMMENCE FOR NEXIF RATCH’S 145 MWP SOLAR FARM IN THE PHILIPPINES
Nexif Ratch Energy, a leading independent power producer focused on renewable energy solutions, announced the financial close of its 145MWp Bacolod Solar Power Project, its second solar power project in the Philippines. The Bacolod Solar Power Project, developed by Negros PH Solar Inc, is located across Bacolod City and Bago City in the Negros Occidental province. It is a 145 MWp ground-mounted solar photovoltaic project that will connect to National Grid Corporation of the Philippines (NGCP’s) Bacolod Substation and can potentially power to up to 52,600 households.
The project investment of more than USD 100 Mn is funded by equity from Nexif Ratch Energy and credit facilities from Security Bank Corporation and Philippine National Bank on a limited recourse basis, with SB Capital Investment Corporation acting as the Mandated Lead Arranger and Bookrunner and PNB Capital and Investment Corporation acting as Arranger. This is NRE’s second solar project in the Philippines, following the 74 MWp Calabanga project, which began commercial operations in August 2025. NRE aims to increase the share of renewable energy by 35% in the energy mix by 2030 and 50% by 2040.
DOE CONFIRMS COMMERCIALITY FOR THREE MAJOR OFFSHORE WIND POWER PROJECTS IN THE PHILIPPINES
The Department of Energy (DOE) in the Philippines has announced plans to commercialise three offshore wind power projects. These projects, with a combined capacity of 1,650 MW, received their Certificates of Confirmation of Commerciality (CoCoC) from the DoE, allowing them to proceed into the development phase. The projects are being led by a consortium that includes Triconti Windkraft Group, Liechtenstein-based Sea Wind Holdings, and Swiss renewable energy group Stream Invest Holding.
The awarded projects are the 450 MW Frontera Bay Wind Power Project, located off the coasts of Cavite and Bataan and the 1,200 MW Guimaras Strait Project I and II, situated between Panay and Negros Occidental, developed in two phases of 600 MW each. These projects are expected to provide substantial support to the local power grids in high-demand areas.
These wind farms will use fixed-bottom foundations and are positioned near high-demand energy grids. The consortium aims to include these projects in the Philippines’ first Green Energy Auction for Offshore Wind, targeted for 2025. The CoCoC allows the projects to move forward from feasibility studies into the 20-year operating phase, which includes detailed planning, construction, and production. This development is part of the Philippine government’s goal to achieve 15.3 GW of clean energy by 2030, with offshore wind expected to contribute 3 to 6 GW.
DOE CLEARS 19 ENERGY PROJECTS FOR GRID ASSESSMENT
The Department of Energy (DOE) has authorized the National Grid Corporation of the Philippines (NGCP) to conduct a system impact study (SIS) on 19 green energy projects. These projects will undergo a system impact study (SIS) to evaluate the grid’s ability to accommodate the new energy connections and determine necessary upgrades. Of these, 17 focus on renewable energy (RE), while the other two involve waste-to-energy (WTE) and battery energy storage system (BESS) initiatives.
A grid impact study evaluates the power grid’s ability to support a new connection and identifies necessary upgrades, such as additional transmission lines and transformers. Key projects include:
Vortex Offshore Wind Corporation’s 1,000 MW offshore wind project in Mindoro
478.2 MWp solar project by North Luzon Green and Sustainable Energy Incorporation in Pangasinan
425.3 MWp solar development by Tuy Solar Power7 Corporation in Batangas.
wpd Philippines Onshore Inc.’s 400-MW onshore wind initiative in Ilocos
150-MW onshore wind development in Antique
First Gen Visayas Energy Inc.’s 100-MW wind project in Lanao del Norte
Energija Sur 2 Inc.’s 40-MW battery energy storage system (BESS) project in Laguna
MC Project Solutions Inc.’s two wind projects totaling 200 MW in Cebu
The Blue Circle Philippines Mindoro Corporation’s 112-MW wind project in Oriental Mindoro
Sta. Ignacia Tarlac Solar Power Corporation’s 20-MWp solar initiatives in Tarlac
Manila Integrated Environment Corporation’s 100-MW waste-to-energy (WTE) facility
Freya Renewables Inc.’s solar project with a capacity of 79.96 MWp in Leyte.
Kanji Solar Inc.’s 70-MWp solar project in Isabela
Linglingay Power Corporation’s 97.2-MWp solar project also in Isabela
Citicore Wind Energy Corporation’s 50-MW wind project in Camarines Sur
Cleanergy 2 Inc.’s 209.56-MWp solar development in Isabela
Exzal Renewable Energy Corporation’s 100-MWp solar initiative in Albay-Sorsogon.
Since January 2024, the DOE has endorsed 148 power generation projects, including 143 RE projects, four BESS, and one WTE.
PHILIPPINES DOTR PLANS TO TRIPLE RAILWAY TRACKS BY THE 2030
The Department of Transportation (DOTr) of the Philippines aims to increase the railway network by over threefold by the 2030s through investment-approved projects. Currently, the railway spans 270 km, but this will expand to 1,233 km once projects like the North-South Commuter Railway and the Metro Manila Subway are completed. Additionally, daily ridership is expected to grow nearly fivefold, reaching 4.86 Mn from the current 938,000.
The expansion will also include an increase in railway stations from 85 to 216 and train cars from 290 to 1,391, improving the country’s transport infrastructure. The funding for these projects was made possible through partnerships with several international partners such as the Japan International Cooperation Agency (JICA), the Asian Development Bank, the Asian Institute of Finance, the World Bank Group, as well as several foreign governments such as Japan, China, South Korea, and Australia.
RATP DEV AND JR EAST SIGN STRATEGIC COLLABORATION AGREEMENT FOR PHILIPPINE RAIL PROJECT
RATP Dev and JR East have signed a MoU to collaborate on the North-South Commuter Railway (NSCR) project in the Philippines, enhancing urban mobility and sustainable transport in Greater Manila. The partnership between the two global railway operators builds on over a decade of cooperation and knowledge-sharing. RATP Dev and JR East are already well-established in the Philippines and are now committed to enhancing the country’s transport infrastructure by providing more efficient, reliable, and sustainable rail solutions.
The NSCR project is one of the Philippines’ largest rail undertakings, with a 147 km line extension designed to improve travel times between Manila, its suburbs and Clark International Airport. The collaboration seeks to deliver a high-quality service to meet the growing mobility needs in the region.
NOVEMBER 2024
PHILIPPINES’ DOE APPROVES EXPANDED CAPACITY FOR ALTERNERGY’S TANAY WIND PROJECT
The Philippines’ Department of Energy has green lighted the increase in registered capacity of the Tanay Wind Power Project to 128 megawatts (MW) from 112 MW. This approval enables Alternergy Tanay Wind Corporation (ATWC), a subsidiary of Alternergy Holdings Corporation, to install 16 wind turbines, each with an 8 MW capacity, marking the largest onshore wind turbines to be installed in the country.
The Tanay Wind Power Project has secured financing up to PHP 8 Bn (USD 136.94 Mn). It will be Alternergy’s second wind project in the province, in addition to the 54 MW Pililla Rizal Wind Farm which has been operating since 2015.
CITICORE AND TRINASOLAR SIGN 2GW SOLAR MODULE SUPPLY DEAL TO BOOST PHILIPPINES’ RENEWABLE ENERGY
Citicore Renewable Energy Corporation (CREC) has signed a substantial contract with Trinasolar to supply 2GW of Vertex N 720W solar modules, strengthening CREC’s plans to scale its renewable capacity to 5 GW within five years. The Vertex N modules, using advanced i-TOPCon technology, are expected to improve efficiency and reduce the cost of energy, aligning with the Philippines’ renewable energy goals, including projects under the Green Energy Auction. This partnership underscores Citicore and Trinasolar’s commitment to the country’s green energy transition.
Trinasolar’s Vertex N 720W Series, which utilizes a cutting-edge 210mm platform with n-type i-TOPCon Advanced cell technology, promises higher efficiency than conventional p-type models. These panels are designed to optimize the Leverage Cost of Energy (LCOE), enhancing both energy yield and long-term reliability – factors crucial for CREC’s large-scale energy plans in the Philippines. This collaboration aims to leverage Trinasolar’s technology and CREC’s expertise in the Philippine solar market, accelerating solar power development and supporting the nation’s green energy objectives.
CHARGEEUROPA AND MOVEM LAUNCH EV CHARGING NETWORK IN THE PHILIPPINES
ChargeEuropa has partnered with Movem, a subsidiary of Meralco to launch the first Digital Out-of-Home (DOOH) and electric vehicle (EV) charging network in the Philippines. This groundbreaking partnership introduces ChargeEuropa’s unique DOOH/EV charging model to the Philippines, marking the company’s first entry into Asia and a significant step toward building accessible EV infrastructure in early-stage markets across the continent.
ChargeEuropa’s innovative approach to EV charging combines Digital Out-of-Home (DOOH) advertising with high-quality, reliable charging stations. ChargeEuropa provides a financially sustainable pathway for EV adoption in markets were traditional, pure-play EV infrastructure may not yet be feasible. ChargeEuropa will deploy advertising-supported EV chargers across strategic locations in the Philippines, fostering the growth of clean transportation and reducing barriers for EV adoption.
PHILIPPINES’ DOTR IS CONSIDERING TO FUND THE MINDANAO RAIL PROJECT THROUGH PPP
The Philippine Department of Transportation (DoTr) is exploring the possibility of a Public-Private Partnership (PPP) for the Mindanao Railway Project following the withdrawal from the financing plan from the Government of China. The government is reviewing the project’s feasibility study and looking at multiple funding options, including potential private-sector participation.
The government is still considering Official Development Assistance (ODA), it is increasingly leaning towards a PPP arrangement to expedite progress and attract private investment. The Mindanao Railway project aims to boost regional economic development and reduce poverty, but experts warn that it may require subsidies to make it commercially viable for private investors. The first phase of the Mindanao Railway project will run from Tagum, Davao del Norte to Digos City, Davao del Sur. It is expected to carry 122,000 passengers per day and cut travel time between Tagum and Digos from three hours to one.
DECEMBER 2024
MOU SIGNED TO BOOST ENERGY TRANSITION IN THE PHILIPPINES AND UAE
The Philippines and the United Arab Emirates (UAE) have signed a Memorandum of Understanding (MOU) to deepen energy transition cooperation. The MOU includes several areas of cooperation particularly in renewable energy; liquefied natural gas as a transition fuel; power generation, transmission, and distribution system; nuclear energy; energy efficiency and conservation; and alternative fuels and emerging technologies.
The partnership has the potential to support the development of the country’s energy landscape by attracting investments, creating jobs, and promoting the transfer of cutting-edge technology to strengthen local expertise. Moreover, an Implementation Agreement with a UAE state-owned firm is expected in January 2025, further advancing renewable and alternative energy projects.
ERC APPROVES 24,000 MW FOR PHILIPPINE GRID EXPANSION
The Energy Regulatory Commission (ERC) has issued 3,959 Certificates of Compliance (COCs) and 334 Provisional Authorities to Operate (PAOs) between January and November 2024, contributing a total of 24,092.79 MW to the Philippine grid aim to strengthen grid security and promote affordable electricity rates across the Philippines.
In November 2024, the ERC approved 321 COCs and 19 PAOs for generation companies (GenCos), Self-Generating Facilities (SGFs), Distributed Energy Resources (DERs), and Qualified End-users (QEs) in Luzon, Visayas, and Mindanao. The Commission has significantly improved its processing times for COCs and PAOs, completing approvals within 30 to 45 days—well below the 60-day timeline mandated by the Energy Virtual One-Stop Shop (EVOSS) Law.
BCDA STRENGTHENS DIGITAL INFRASTRUCTURE PARTNERSHIPS IN THE PHILIPPINES
The Bases Conversion and Development Authority (BCDA) has signed a memorandum of understanding (MoU) with two major digital infrastructure providers to improve connectivity across key locations, including New Clark City and Bonifacio Global City, Philippines. This collaboration aims to boost the nation’s telecommunications capabilities and support smart city initiatives by integrating advanced infrastructure in critical areas. The partnership reflects a shared commitment to promoting economic growth and digital transformation across the Philippines.
The project focuses on sustainable urban development, emphasizing high-quality connectivity for residents, businesses, and government institutions. Additionally, the partnership also aims to address the growing demand for reliable digital services, helping drive innovation and long-term socio-economic growth in the targeted areas.
ADB STRENGTHENS PPP SUPPORT IN THE PHILIPPINES WITH USD 30 MN LOAN
The Asian Development Bank (ADB) has approved a USD 30 Mn loan to support Public–Private Partnership (PPP) projects in the Philippines and help the country strengthen infrastructure development, advance climate action, and enhance economic competitiveness. The loan will replenish the Project Development and Monitoring Facility (PDMF) managed by the government’s Public–Private Partnership Center (PPPC) to support the design and implementation of bankable PPP projects. It will also help enhance the capacity of implementing agencies and Local Government units (LGUs) to develop and manage these projects.
The loan will support as many as 35 national and local PPP projects from 2025 to 2029, with all projects undergoing climate risk screening and management to ensure alignment with the Philippines’ nationally determined contribution. These projects will cover railways, roads, and transport network improvements, as well as essential community facilities, contributing to the improvement of living standards for Filipinos.
The loan will also support the establishment of a project evaluation framework in emerging PPP sectors to meet diverse and expanding PPP demands, as well as a contingent liabilities evaluation framework to ensure fiscal sustainability.
ADB has been supporting the creation of an enabling environment for infrastructure development through private sector participation, leveraging various policy loans such as the Expanding Private Participation in Infrastructure Program Subprogram 1 and 2 and technical assistance. It has assisted with the formulation and enforcement of the Implementing Rules and Regulations of the PPP code. The new loan will facilitate the effective execution and delivery of PPP projects, along with the Public Financial Management Reform Program Subprogram 1 recently approved by ADB.
HD RENEWABLES AND ATE ENERGY PARTNER WITH SMGP FOR 1 GW SOLAR PROJECT IN THE PHILIPPINES
HD Renewables and ATE Energy have entered into a letter of intent with San Miguel Global Power (SMGP), the power generation arm of San Miguel Corporation, to jointly develop a 1 GW solar energy project in Isabela Province, Philippines. This collaboration aims to boost the renewable energy (RE) capacity in the region and contribute to the country’s growing green energy sector.
The project will play a key role in expanding the Philippines RE infrastructure, supporting both environmental goals and economic growth. The partnership reflects the increasing interest in large-scale solar energy projects in Southeast Asia.
THE GOVERNMENT OF THE PHILIPPINES EXPANDS TRANSPORT PPP INITIATIVES
The Government of the Philippines has finalized a contract for the Bohol-Panglao Airport Public-Private Partnership (PPP) and initiated agreements for four additional transport projects. These efforts reflect the country’s commitment to leveraging PPPs for infrastructure development, aiming to enhance connectivity and economic growth.
The initiatives align with the government’s broader strategy to attract private investment in transport infrastructure, creating opportunities for innovation and improved services. The projects are expected to support regional development and improve accessibility across the Philippines.
HUAWEI SECURES 4.5 GWH ENERGY STORAGE DEAL IN THE PHILIPPINES
Huawei has signed an agreement with the Meralco Terra Solar project in the Philippines to supply a 4.5GWh battery energy storage system (BESS). This marks Huawei’s largest energy storage project, integrating containerized batteries, fire suppression systems, and advanced energy management solutions. The project will include 3.5GWp of solar PV generation capacity and a 4.5GWh BESS to be built across 3,500 hectares of land in the two provinces of Bulacan and Nueva Ecija. It will begin commercial operations in two phases, with the first scheduled for February 2026 and the second for February 2027.
Huawei recently provided its Smart String ESS LUNA2000-2.0MWH-4HL batteries combined with its Luna 2000-200KTL-HO inverters for a 240MW system in Romania. The system will include containerised batteries and essential auxiliary components such as fire suppression systems, heating, ventilation, air conditioning, battery management systems, power conversion systems (PCS) and energy management systems (EMS).
The company will also include step-up transformers to connect to the 34.5kV busbar at the main substation. These systems will allow the Terra Solar project to store excess electricity generated during low-demand periods and supply it back to the grid during peak demand, ensuring a more stable and resilient energy supply.
DEPED AND PPP ADDRESS CLASSROOM CONSTRUCTION AND AMENDMENTS IN 2025
The Department of Education (DepEd) and Public-Private Partnership (PPP) will initiate organized planning of construction and infrastructure for the ongoing classroom shortage in the Philippines on December 20, 2024. DepEd signed a USD 1 Mn technical assistance agreement with the PPP on December 20, 2024. This agreement seeks to assist and cover the country’s educational reforms under the PPP’s “School Infrastructure Program Phase III” (PSIP III).
The Technical Assistance Agreement involves constructing 15,000 classrooms in 1,600 schools situated in nine regions, intended to help 600,000 learners across the country. The Project Development and Monitoring Facility, as granted by the PPP, to streamline the 165,000-classroom shortage, affecting the quality of Philippine education nationwide.
DepEd, alongside PPP, also plans to explore more cumulative resources for educational enhancement and sustainable environments. This includes solar panel systems, school libraries, and the 90,000 additional classrooms following the initiated plan.
FEASIBILITY STUDY FOR FERRY SYSTEM READY BY Q1 2025
The government expects to complete the feasibility study for the proposed ferry system that will traverse Manila Bay, Pasig River and Laguna de Bay by Q1 2025. The Department of Transportation (DOTr) and PPP Center are working on the feasibility study of the MAPALLA to determine passenger demand and the project cost.
The government intends to bid out the development of the ferry system as a PPP next year. This means the government will be looking for a private partner for the implementation of the project. MAPALLA will involve the financing, design and construction of a ferry system that will connect Manila Bay and Laguna Lake through the Pasig River. The project will also involve the procurement of low carbon ferries, as well as operations and maintenance of the ferry system.
The DOTr wants to replicate the Chao Phraya River Ferry System in Thailand and the New York Ferry System in the US. Through the project, the government aims to provide additional capacity to address the high transportation demand between the eastern and western areas of the Greater Capital Region.
List of key transactions - Philippines Q4 2024
Source: YOG INFRA analysis, Public Information
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