Philippines' EcoSolar Advances 20MW Energy Storage Project

en.Wedoany.com Reported - On July 17, EcoSolar Energy Corporation, a subsidiary of Philippines' PetroGreen Energy, secured PHP 635.9 million in debt financing to support the construction of a 20MW/40MWh battery energy storage project in the Western Visayas region. Located in Panitan, Capiz Province, Philippines, this project marks PetroGreen's first venture into the battery energy storage sector.

The financing was arranged by RCBC Capital Corporation as the lead arranger, with RCBC Trust Corporation serving as the financing agent and security trustee. EcoSolar's battery energy storage system is currently under construction, with installation expected to be completed by August and the project scheduled to commence operations in September. Once operational, it will support regional grid stability and enhance power supply reliability, while providing regulation capabilities for the integration of local renewable energy projects.

The energy storage project is expected to utilize Huawei Luna2000-5015-2S battery infrastructure. For the Philippines' power system, island grids and regional transmission and distribution networks have a high demand for energy storage, with battery storage playing a role in load fluctuations, renewable energy output variations, and grid fault recovery. EcoSolar has also previously obtained environmental permits for a 98.2MWdc solar project in the Western Visayas region. Following the implementation of the energy storage project, the company can continue to explore pathways for the coordinated development of solar and storage.