Vietnamese firm plans P10-B solar projects in PHL

VIETNAM’S CN Green Roof Asia, a solar energy developer, is allotting P10 billion for its planned solar and battery energy storage projects in the Philippines over the next two years.

Green Roof is planning to develop and construct ground-mounted solar and commercial and industrial (C&I) rooftop projects with a total capacity of up to 300 megawatts, the company said in a statement on Tuesday.

“Building on our extensive experience in solar rooftops, we are excited to enter the utility-scale market in the Philippines. We have developed a robust pipeline of high-impact projects and plan to begin construction on our first project by mid-2025,” Green Roof Chief Executive Officer Rob Santler said.

The company recently entered into a partnership with local solar developer Solana Renewable Energy Holdings to put up a 20-megawatt-peak ground-mounted solar plant in Hermosa, Bataan.

A total of approximately P100 million is set aside for the development phase, with an estimated total construction cost of P600 million.

The construction of the project is expected to start by early next year and is slated for operations by the third quarter of 2025.

Aside from Bataan, the company is eyeing to penetrate the Philippine renewable energy market by establishing pipeline projects across provinces in Luzon, Visayas, and Mindanao.

Established in 2021, Green Roof is a joint venture between investment managers Climate Fund Managers – Climate Investor One and Norfund.

The company said it is planning to invest up to approximately $200 million for both ground-mounted projects and C&I rooftop projects across the Philippines, Vietnam, and Indonesia. — Sheldeen Joy Talavera