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Solar Philippines plans 1 GW of solar projects in the Philippines

Solar Philippines plans to launch the construction of more than 1 GW of solar projects in at least four provinces within the Luzon grid in the Philippines. The company, which plans an initial public offering (IPO) at the Philippine Stock Exchange (PSE), intends to commission the solar power plants in 2022.

The Philippines' Renewable energy roadmap 2017-2040 increased the renewables target of the National Renewable Energy Programme (NREP) of 2011: it aims to double the renewable capacity by 2030 and increase capacity to at least 20 GW by 2040. At the end of 2019, the renewable capacity in the country stood at 7 GW (27% of the power mix), including 3.8 GW of hydropower (15%), 1.9 GW of geothermal (7.5%), 920 MW of solar (4%) and 427 MW of wind (1.7%). More than 3.7 GW of solar projects are currently under development.

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