Actis has finalized its $600 million acquisition of a stake in MTerra Solar Philippines, Inc. (MTerra Solar). The investment was made through MGEN Renewable Energy, Inc. (MGreen) and its subsidiary SP New Energy Corporation (SPNEC). This acquisition gives Actis an equity stake in MTerra Solar under specific conditions.
MTerra Solar operates one of the largest renewable energy portfolios in the Philippines. It has an 850-megawatt (MW) contracted capacity over a 20-year period. Once fully developed, the company will have 3,500 MW of installed solar capacity and 4,500 megawatt-hours (MWh) of battery energy storage capacity.
In addition to large-scale projects, smaller renewable energy initiatives are growing in the Philippines. In rural areas of Mindoro, solar-powered microgrids are being developed to bring electricity to off-grid communities. These systems provide capacities ranging from 5 kilowatts (kW) to 100 kW, supplying power to schools and small businesses.
In the Batanes Islands, small-scale wind and solar hybrid systems are being installed. These systems have capacities of 50 kW to 150 kW and help reduce reliance on diesel generators.
The city of Iloilo has launched a rooftop solar program for government buildings. More than 10 government offices have installed solar panels with a combined capacity of 2 MW. In Cebu, a pilot floating solar project has been introduced on a small reservoir. The system generates 500 kW and is being tested for scalability in other water bodies.
The Department of Energy is also promoting the use of solar-powered irrigation pumps in agricultural regions. Over 1,000 small pumps have been distributed to farmers in Northern Luzon, with capacities between 2 kW and 10 kW.
The Philippines continues to expand renewable energy projects with a mix of large-scale plants and smaller community-focused initiatives.
