Solar plus storage project financing options in Philippines 2026

Is there a solar project in the Philippines?

Given the limited scale of solar in the Philippines, it is perhaps surprising that there are plans to develop one of the world’s biggest combined PV and energy storage projects in the country.

Will solar-plus-storage projects be included in Geap?

The Energy Regulatory Commission (ERC) has released draft reserve prices for the fourth round of the Green Energy Auction Program (GEAP), marking the first time that solar-plus-storage projects will be included.

How many MW will a solar project deliver in 2026?

An advisory released Thursday said the updated target includes 9,553 MW from ground-mounted, roof-mounted, floating solar, and onshore wind projects for delivery between 2026 and 2029, plus 1,100 MW of solar capacity with battery energy storage. The previous plan had allocated 9,378 MW for solar and wind, and 1,100 MW for solar with storage.

What is floating solar & energy storage in Luzon?

The inclusion of floating solar—particularly prominent in Luzon with a total of 2,975 MW across the four years—highlights innovative land-use solutions, while energy storage addresses the intermittency challenges of renewables.

How much solar capacity will Luzon have in 2026?

The previous plan had allocated 9,378 MW for solar and wind, and 1,100 MW for solar with storage. The DoE reallocated 1,040 MW of floating solar capacity in Luzon — initially scheduled for 2026 — across 2027, 2028 and 2029 to allow developers more preparation time, enhance feasibility, and support grid readiness.

How much solar will Manila have in 2024?

Installed PV capacity reached 2.3 GW, with 820 MW of solar added in 2024, breaking the previous record of 320 MW of newly installed capacity in 2021. Even so, this was far below the 2 GW of new solar the government has forecast for 2024. Manila’s ambitions were frustrated by project delays.