Singapore-headquartered renewable energy producer Gurīn Energy announced today that its board has approved a final investment decision (FID) for the Capas Solar Project in the Philippines.
The greenfield project will become a 39 megawatt (MW) solar farm located in the municipality of Kapas, Tarlac. A 40-hectare site has been secured for the project through a 25-year lease agreement with the Philippine Bases Conversion and Development Authority (BCDA).
The FID is a significant step forward for Gurīn Energy’s presence in the Philippines, where the developer has a pipeline of 1GW of projects. This includes the 75 MW Palauig Solar Power Plant currently under construction in Zambales province.
The Capas Solar Energy Project will generate enough clean energy to power 18,000 homes and avoid more than 1 million tons of CO2 emissions over its lifetime.
Mr. Ping Mendoza, Gurīn Energy’s Country Manager for the Philippines said, “We are pleased to have reached the final investment decision stage for the Capas Solar Project. This is a testament to Gurīn Energy’s belief in the Philippines as one of Southeast Asia’s renewable energy powerhouses and our commitment to ensuring Asia’s transition to 100 percent clean energy.”
For more information, please contact [email protected].
About Gureen Energy
Gurīn Energy is a Singapore-headquartered renewable energy producer focused on the development, ownership and operation of solar, wind and storage assets across Asia.
To date, Gurīn Energy has a total of 7 GW of projects in various stages of development in Indonesia, Japan, Malaysia, the Philippines, Singapore, South Korea and Thailand. His
Managed by a team of 70 professionals committed to Gurīn Energy’s goal of accelerating Asia’s transition to 100 percent renewable energy, the portfolio continues to grow rapidly.
Gurīn Energy is owned by Infratil Limited, a listed infrastructure investment company managed by its board and global infrastructure manager Morrison.