Scatec-JV Wins 68 MW Floating Solar Deal in Philippines

Scatec, a leading renewable energy solutions provider, and its joint venture partner Aboitiz Renewables, have been awarded a 20-year Power Purchase Agreement (PPA) for a 68 MW floating solar project in the Philippines under the Department of Energy’s Green Energy Auction Program 4 (GEA 4). 

The project will be developed through SN Aboitiz Power (SNAP), the companies’ joint venture in the Philippines, where Scatec owns a 50% stake. The floating solar plant will be located on the Magat reservoir in Isabela Province, where SNAP already operates a 388 MW impoundment hydropower facility, an 8.5 MW run-of-river hydropower facility, and a 24 MW battery energy storage system (BESS). The project demonstrates the scalability of hybrid renewable energy solutions by combining solar power with existing hydropower infrastructure.

The Magat floating solar project will support the Philippines in achieving its renewable energy goals of securing a 35% share of renewables by 2030 and 50% by 2040. Financial closure and the start of construction are anticipated in 2026, with commercial operations expected to begin in 2027. The project will utilize established floating solar technology that has demonstrated reliable performance across the Southeast Asian region.