Athein, a Singapore-based independent power producer (IPP), has announced plans to develop 2 GW of solar PV projects in the Philippines by 2030, with 500 MW already under development. The joint venture is currently developing multiple utility-scale solar projects, the largest of which is 300 MW, and is in the process of evaluating over 13,000 hectares of land suitable for solar power plants in the Philippines.
Athein was established in December 2022 as a joint venture between Saudi Arabia’s ATAD Energy Company, Singapore’s Hexagon Holdings, the Vietnamese PV company Inpos and the Philippine solar supplier Invenic. It plans to operate 1 GWp of renewable assets by 2026 and 5 GWp by 2030, spread across India, Philippines and Vietnam.
The Philippines targets a 35% renewable share in the power generation mix by 2030 and 50% by 2040 (up from 21% in 2020). It plans to add 20 GW of renewable energy capacity by 2030.