Terasu Energy (Tarlac)

Tarlac, Luzon, PhilippinesUnder Construction

The Sta. Rosa Solar project is a 60MW solar farm that will produce renewable energy to help meet the Renewable Portfolio Standards recently implemented in the Philippines. The project is located on approximately 62 hectares of land near Barangay Sta. Rosa in Region III, Philippines, approximately 110 km north of Manila. Sta. Rosa Solar, a joint venture of Mabalacat Solar Philippines and Sindicatum, entered into 25-year lease agreements for the land required for the plant, and an easement agreement for the transmission line. The solar plant would connect directly to the nearby National Grid Corporation of the Philippines (NGCP) substation within less than a half kilometer of the project site.

The project entered into a 20 year Power Supply Agreement (“PSA”) with a leading Retail Energy Supplier which is a subsidiary of one of the largest energy companies in the Philippines.

All technical studies and engineering design have been completed, all permits received and signed a Power Purchase Agreement with a major offtaker. As of quarter 4, 2019, the project has reached financial close and is currently under construction. The plant is expected to be operational by the first half of 2020.