Gurīn Energy Pte Ltd., a Singapore-headquartered renewable energy developer, broke ground on the 75-megawatt (MW) Palauig solar project in Zambales province.
“The groundbreaking ceremonies is a significant milestone in Gurīn Energy ‘s journey towards helping Asia with 100-percent renewable energy. Once completed in 2024, the Palauig solar plant will produce enough clean energy to power more than 35,000 homes,” the company said.
Gurin said it reached financial close for the $60-million project. The 80-hectare farm will deploy up to 136,363 ground-mounted, energy efficient solar photovoltaic panels.
The project, expected to be completed by the third quarter of 2024, will create more than 550 jobs throughout the project lifecycle. Once operational, the solar farm will produce enough clean and zero-emission electricity to power more than 35,500 homes each year and avoid 53,100 metric tons of climate-changing emissions annually, which is equivalent to taking 11,500 combustion-engine cars off the road a year.
Gurīn Energy said it is committed to taking tangible action to move Asia to 100-percent RE which is critical to fighting climate change.
“We are pleased to have achieved financial close for our 75-MW solar farm, a milestone for Gurīn Energy in the Philippines. We are grateful to all our partners, our lender Union Bank of the Philippines, and to the national, provincial and municipal authorities for their confidence and ongoing support,” Gurīn Energy country manager for the Philippines Reden Garcia Rodriguez said.
The Palauig solar power plant is the first of Gurīn Energy’s solar projects in the Philippines to achieve financial close and is part of the company’s growing 7-gigawatt pipeline of projects across Asia.