MTerra Solar Phase 1, a joint investment between Actis and Meralco PowerGen Corp. (MGEN), has commenced commercial operations for 600 megawatts ac of mid-merit capacity under its power supply agreement (PSA) with Meralco.
The project was issued the final certificate of approval to connect by the National Grid Corp. of the Philippines and has therefore met the necessary requirements to safely and reliably connect and operate 950 megawatts ac of solar capacity and 825 megawatts of battery energy storage within the national grid.
MTerra Solar is expected to deliver 3,500 megawatts peak of solar photovoltaic (PV) capacity paired with 4,500 megawatt-hours of battery storage, supporting the government’s goal of increasing renewable energy’s share in the country’s power generation mix to 35 percent by 2030 and 50 percent by 2040.
Actis and MGEN worked together to jointly develop MTerra Solar. Actis’ $600 million investment represents the Philippines’ largest
