Singapore’s IPP platform athein, a joint venture of four Southeast Asian companies, is developing over 500 MWp of utility scale and commercial and industrial solar power across the Philippines. The company aims to reach 2 GWp of operating projects by 2030.
athein’s Co-Founder and CEO – Milan Koev, believes that Philippines (together with Singapore) is among the most liberalized power markets in ASEAN, however the country is also leading the race of highest retail electricity tariffs in the region. The country’s plans to add 20 GWp of renewable energy by 2030, coupled with abundant irradiation areas and faster growth of power demand, translate into enormous potential.
Edmund Yen, Co-Founder and CCO of athein, said: “The existing grid infrastructure remains an obstacle for connecting large scale projects, particularly outside of Luzon Island, thus we are considering multiple alternative solutions, such as micro-grids and battery storage systems.”
Global Energy Monitor estimates that by 2030 the Philippines, as one of the world’s fastest-growing economic regions, will have added 17,809 MW of solar capacity and 7,856 MW of wind power to emerge as the top green power producer, leapfrogging Vietnam as the main renewable energy producer in Southeast Asia.