Blueleaf Energy and SunAsia Energy have been awarded contracts by the Philippine government to construct and manage what is claimed to be the world’s largest floating solar project with a combined capacity of 610.5 MW.

The move is viewed as a milestone in the country’s energy sector with the issuance of Solar Energy Operating Contracts (SEOCs) by the Department of Energy (DOE) for a cumulative capacity of 1.3 GW in floating solar projects.

Blueleaf Energy and SunAsia Energy will collaborate on the construction of a sizable floating solar installation on Laguna Lake, which extends across the developing urban cities of Calamba, Sta. Rosa and Cabuyao, as well as the towns of Bay and Victoria.

At the contract turnover ceremonies, Energy Secretary Raphael Lotilla restated his commitment to enhancing the renewable energy sector and declared the DOE’s unwavering support for commercializing floating solar facilities as an emerging technology.

Blueleaf Energy CEO, Raghuram Natarajan, said that the Philippines holds great potential to add significant renewable energy capacity to its energy mix and, at the same time, deliver green energy at an affordable cost compared to fossil fuels.

Natarajan also noted that removing foreign ownership restrictions is an important step in attracting much-needed foreign direct investments in the Philippine renewable energy sector to accelerate the country’s energy transition to meet decarbonization and net-zero targets.

Emphasizing cooperation among public and private stakeholders to ensure the successful development of the project, Natarajan added that this project would contribute to the country’s renewable energy goals and spark green job growth locally during construction and long-term operations.

Blueleaf Energy has developed and built almost 2 GW of solar capacity globally, including 250 MW in the Philippines.

SunAsia Energy’s President and CEO, Tetchi Capellan, pointed out that there is a strong incentive to build floating solar projects on the water as land use is becoming a big issue for renewables.

SunAsia Energy has been operating a testbed on Laguna Lake since 2019, aiming to contribute to the growing knowledge of floating solar panels on the lake.

SunAsia Energy has partnered with various entities to develop solar projects since its inception in 2013, including the 60 MW Toledo solar project in Cebu and the 20 MW Dagupan solar project in Pangasinan.

In June 2022, the Philippines’ DOE awarded 19 contracts to develop 1.57 GW of renewable energy projects under the first round of the 2 GW Green Energy Auction Program. The auction was held for solar, hydro, wind, and biomass projects in the country’s Luzon, Visayas, and Mindanao regions.

Earlier in February, through its Green Energy Auction program, the department launched an auction to allocate 2 GW of renewable energy capacity across its three main power territories.