850 MW PPA signed for Solar PV project in Philippines
Prime Infra has signed a 20-year power supply agreement (PSA) with Manila Electric Co. (Meralco) to supply 850 MW of energy generated from its 2,500 MW to 3,500 MW solar photovoltaic (PV) system with an energy storage capacity of roughly 4,000 MWh to 4,500 MWh in the Philippines.
Under the agreement Terra Solar Philippines, will provide the 850MW mid-merit supply to Meralco, which can approximately power 1.55 million houses per year (average of 200kWh/month), while displacing an annual consumption of approximately 1.4 million tons of coal or 930 million liters of oil. 600 MW will be available by 2026, while the additional 250 MW will be delivered in 2027.
Prior to implementation, the PSA will be filed with the Energy Regulatory Commission and will be subject to regulatory proceedings and approval.
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