TotalEnergies, in partnership with the Philippines-based renewable energy developer Nextnorth, have reached financial close and started construction of a 440 MWp solar power plant in Ilagan, in the Province of Isabela, in the Philippines (Totalenergies press release, 30/04/2026). The USD300m project is owned by French TotalEnergies (65%) and Nextnorth (35%), and it has been financed by 3 international banks: Sumitomo Mitsui Banking Corporation (SMBC), ING Bank NV (ING) and Standard Chartered (SCB). The project is expected to become operational by the end of 2027, and it should be able to produce up to 13.5 TWh over its 20-year lifetime.
More than 50% of the electricity produced will be sold under long-term offtake agreements with AdventEnergy and PrimeRES to supply commercial and industrial users, while the remaining production will be sold to the national grid via the Round 4 of the Philippines Government’s Green Energy Auction Program.
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