SunAsia, Vietnamese firm to invest P24.6B in solar-on-water projects

SOLAR developer SunAsia Energy, Inc. has partnered with Vietnamese renewable energy firm VinEnergo to develop 422-megawatt-peak (MWp) solar-on-water projects worth $406 million (P24.6 billion) in Pampanga and Negros Occidental, adding to the country’s growing renewable energy pipeline.

In a statement on Thursday, SunAsia said the companies plan to build three solar projects that are expected to be among the first large-scale pile-mounted solar-on-water developments in the Philippines.

The projects will involve the installation of nearly 700,000 solar panels mounted on concrete pile structures above water areas, allowing aquaculture and fishpond operations to continue beneath and around the facilities.

Electricity generated by the projects will be transmitted through approximately 62 kilometers of new transmission lines to connect the facilities to the grid in Pampanga and Negros Occidental.

The projects are targeted for commercial operations between 2027 and 2028.

SunAsia said the developments are designed to maximize the productive use of water-based areas by combining renewable energy generation with aquaculture activities.

“This partnership was born out of the shared resolve of SunAsia Energy and VinEnergo to advance energy security, support economic growth, improve the lives of our people, and help protect the planet,” SunAsia Chief Executive Officer and President Ma. Theresa Cruz-Capellan said.

Ms. Capellan said the partnership highlights the potential of integrating aquaculture and energy production.

“Vietnam is one of the world’s leading shrimp exporters, while the Philippines has a strong history in shrimp production. By bringing together the experience, technology, and commitment of both countries, this partnership presents a compelling case for integrated solar-aquaculture farming from both a farm productivity and energy cost perspective,” she said.

VinEnergo Chief Executive Officer Nguyen Anh Khoa said the technology offers “a unique opportunity to support sustainable energy growth and responsible resource utilization.”

The projects come as the Philippines seeks to accelerate renewable energy development and increase the share of clean energy in the country’s power generation mix.

SunAsia, established in 2013, has developed solar projects across the country, including a 60-MW facility in Toledo, Cebu, a 20-MW project in Pangasinan, and a floating solar photovoltaic test bed in Laguna Lake.

VinEnergo, the renewable energy arm of Vietnamese conglomerate Vingroup, develops large-scale solar and wind power projects across multiple markets.

The company has set a target of developing 100 gigawatts of renewable energy capacity over the next three years across North America, Northern Europe, the Mediterranean, and Southeast Asia, while exploring opportunities in Central Asia and Africa.

The partnership marks one of the latest cross-border renewable energy investments in the Philippines as developers seek to capitalize on growing demand for clean energy and supportive government policies aimed at attracting foreign participation in the sector. — Sheldeen Joy Talavera