{"id":13338,"date":"2024-11-21T14:39:30","date_gmt":"2024-11-21T07:39:30","guid":{"rendered":"https:\/\/thaipropertynews.com\/feeds\/?p=13338"},"modified":"2024-11-21T14:39:30","modified_gmt":"2024-11-21T07:39:30","slug":"jv-energy-enters-philippines-utility-scale-solar-with-180mw-acquisition","status":"publish","type":"post","link":"https:\/\/thaipropertynews.com\/feeds\/?p=13338","title":{"rendered":"J&V Energy enters Philippines utility-scale solar with 180MW acquisition"},"content":{"rendered":"

MANILA, Philippines<\/span><\/span>, Nov. 21, 2024<\/span><\/span> \/PRNewswire\/ — JNV\u00a0Philippines\u00a0Renewable\u00a0Corporation has\u00a0entered\u00a0into\u00a0an agreement to acquire the entire equity interest in a 180MW ground-mounted solar project located in General Santos, Philippines<\/span>.<\/p>\n

The transaction marks J&V Energy’s first utility-scale renewables investment in the Philippines<\/span>, and comes on the back of J&V Energy’s joint-venture with SolarNRG Philippines in June to develop and construct rooftop projects for commercial & industrial customers.<\/p>\n

J&V Energy has engaged a local partner to complete development of the project, which is expected to participate in the Philippines<\/span> Government’s 2024-25 Green Energy Auction Program (GEAP) expected to be held in 1Q2025. Under the GEAP\u00a0program,\u00a0the\u00a0project\u00a0will\u00a0have\u00a0the\u00a0opportunity\u00a0to\u00a0sign\u00a0a\u00a020-year\u00a0fixed price power purchase agreement with the state-owned National Transmission Corporation.<\/p>\n

The\u00a0project has\u00a0now\u00a0completed\u00a0land\u00a0consolidation\u00a0of\u00a0over\u00a0170\u00a0hectares,\u00a0and\u00a0has\u00a0obtained a\u00a0solar\u00a0energy service contract (SEOC) from the Philippines Department of Energy (DOE). Under the project’s Offer of Service from the National Grid Corporation of the Philippines<\/span>, the project is expected to provide 295 GWhs of green electricity annually to the Philippines<\/span> once commissioned in 2027.<\/p>\n

Jerome Tan<\/span>, Group CIO of J&V Energy and President of JNV Philippines, said: “We are delighted to partner with reputable local developers to make our first utility-scale renewables investment in the Philippines<\/span>. This transaction demonstrates our commitment to the Philippines<\/span>, and brings J&V Energy closer to our target of commissioning 500MW by 2028. We would like to thank the Philippines<\/span> Board of Investments (BOI) and Philippine Trade and Investment Center (PTIC) Taipei<\/span> for facilitating our expansion in the country.”<\/p>\n

According to the latest Philippines Energy Plan (PEP), the Philippines<\/span> is poised to achieve a renewable energy share of over 35% of the total energy mix by 2030, with solar (+17.8GW) and wind (+7.8GW) expected to play a key role in shaping the Philippines’<\/span> energy future.<\/p>\n

About\u00a0J&V Energy<\/b><\/p>\n

Headquartered in Taipei<\/span>, J&V Energy is a publicly-listed leading circular economy and renewable energy\u00a0developer with a market capitalization of ~US$1,000m<\/span> (30 Sep 2024<\/span><\/i>). J&V Energy employs a team of over 350 renewable energy professionals with expertise in solar, wind, energy storage and water infrastructure. Its regional footprint spans across Taiwan<\/span>, Japan<\/span>, Philippines<\/span> and Vietnam<\/span>. In 2023, J&V Energy secured the #1 spot amongst the Top 100 Fastest Growing Companies by CommonWealth Magazine and is a constituent of the MSCI Global Small Cap Index.<\/p>\n

J&V Energy official website
https:\/\/global.jv-holding.com<\/a><\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

MANILA, Philippines<\/span><\/span>, Nov. 21, 2024<\/span><\/span> \/PRNewswire\/ — JNV\u00a0Philippines\u00a0Renewable\u00a0Corporation has\u00a0entered\u00a0into\u00a0an agreement to acquire the entire equity interest in a 180MW ground-mounted solar project located in General Santos, Philippines<\/span>.<\/p>\n

The transaction marks J&V Energy’s first utility-scale renewables investment in the Philippines<\/span>, and comes on the back of J&V Energy’s joint-venture with SolarNRG Philippines in June to develop and construct rooftop projects for commercial & industrial customers.<\/p>\n

J&V Energy has engaged a local partner to complete development of the project, which is expected to participate in the Philippines<\/span> Government’s 2024-25 Green Energy Auction Program (GEAP) expected to be held in 1Q2025. Under the GEAP\u00a0program,\u00a0the\u00a0project\u00a0will\u00a0have\u00a0the\u00a0opportunity\u00a0to\u00a0sign\u00a0a\u00a020-year\u00a0fixed price power purchase agreement with the state-owned National Transmission Corporation.<\/p>\n

The\u00a0project has\u00a0now\u00a0completed\u00a0land\u00a0consolidation\u00a0of\u00a0over\u00a0170\u00a0hectares,\u00a0and\u00a0has\u00a0obtained a\u00a0solar\u00a0energy service contract (SEOC) from the Philippines Department of Energy (DOE). Under the project’s Offer of Service from the National Grid Corporation of the Philippines<\/span>, the project is expected to provide 295 GWhs of green electricity annually to the Philippines<\/span> once commissioned in 2027.<\/p>\n

Jerome Tan<\/span>, Group CIO of J&V Energy and President of JNV Philippines, said: “We are delighted to partner with reputable local developers to make our first utility-scale renewables investment in the Philippines<\/span>. This transaction demonstrates our commitment to the Philippines<\/span>, and brings J&V Energy closer to our target of commissioning 500MW by 2028. We would like to thank the Philippines<\/span> Board of Investments (BOI) and Philippine Trade and Investment Center (PTIC) Taipei<\/span> for facilitating our expansion in the country.”<\/p>\n

According to the latest Philippines Energy Plan (PEP), the Philippines<\/span> is poised to achieve a renewable energy share of over 35% of the total energy mix by 2030, with solar (+17.8GW) and wind (+7.8GW) expected to play a key role in shaping the Philippines’<\/span> energy future.<\/p>\n

About\u00a0J&V Energy<\/b><\/p>\n

Headquartered in Taipei<\/span>, J&V Energy is a publicly-listed leading circular economy and renewable energy\u00a0developer with a market capitalization of ~US$1,000m<\/span> (30 Sep 2024<\/span><\/i>). J&V Energy employs a team of over 350 renewable energy professionals with expertise in solar, wind, energy storage and water infrastructure. Its regional footprint spans across Taiwan<\/span>, Japan<\/span>, Philippines<\/span> and Vietnam<\/span>. In 2023, J&V Energy secured the #1 spot amongst the Top 100 Fastest Growing Companies by CommonWealth Magazine and is a constituent of the MSCI Global Small Cap Index.<\/p>\n

J&V Energy official website
https:\/\/global.jv-holding.com<\/a><\/p>\n

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