ID :
692127
Thu, 11/21/2024 - 08:14
Auther :
PNA
Shortlink :
https://oananews.org//node/692127
The shortlink copeid

Marcos leads groundbreaking of world’s largest solar project

(PCO Photo)

MANILA – President Ferdinand R. Marcos Jr. on Thursday led the groundbreaking of the Meralco Terra (MTerra) Solar Project, which is set to be the largest integrated solar and battery storage facility in the world.

In his speech during the ceremony in Gapan City, Nueva Ecija, Marcos said the landmark project would position the Philippines as a "leader in renewable energy."

MTerra Solar Project is expected to become operational by 2027 and power over 2 million households and reduce carbon emissions of more than 4.3 million metric tons annually, which is equivalent to removing three million gasoline-powered cars from roads, Marcos said.

The project spans 3,500 hectares across the provinces of Nueva Ecija and Bulacan.

Initially, it will be connected to the existing 500-kiloVolt (kV) Nagsaag-San Jose Transmission Line and later linked to the upcoming 500-kV Nagsaag-Marilao Transmission Line.

Aside from benefiting residents, the project is also set to create over 10,000 job opportunities, boost local economies and open doors for growth and development.

Marcos said the PHP200 billion investment for the project “demonstrates confidence in the stakeholders” in the country’s potential and their commitment to ensuring a stable, steady and reliable power supply.

“Over the next decade, it is poised to generate nearly P23 billion in financial benefits—resources that will pave the way for even greater progress. The impacts and advancements of this project are amongst those that we envisioned when I spoke about energy in my recent State of the Nation Address,” the President said.

“We are working towards a steady and reliable power supply that will meet the demands of today and continuously fuel our ambitions for tomorrow. Projects like Terra Solar bring us closer to that vision,” he added.

Marcos called on government agencies and private sector partners to ensure the timely completion of the project and replicate similar efforts in renewable energy project initiatives.

He also commended Meralco, Terra Solar Philippines, Inc., Solar Philippines New Energy Corporation, MGen Renewable Energy Inc., and other partners involved in the project for their efforts in positioning the Philippines as a key player in the global energy revolution. (PNA)

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