J&V Energy Enters the Philippines Solar Energy Market with 180 MW Acquisition – ThePrint – ANIPressReleases

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The deal marks J&V Energy’s first investment in renewable energy in the Philippines and comes under J&V Energy’s joint venture with SolarNRG Philippines in June to develop and construct rooftop projects for commercial and industrial clients.

J&V Energy has engaged a local partner to complete the development of the project, which is expected to participate in the Philippine government’s Green Energy Auction Program (GEAP) 2024-2025, which is expected to take place in the first quarter of 2025. Under the GEAP program, the project will have the option to sign a 20-year fixed-price power purchase agreement with the state-owned National Transmission Corporation.

The project has now completed land consolidation of over 170 hectares and received a solar energy maintenance contract (SEOC) from the Philippine Department of Energy (DOE). In line with the National Grid Corporation of the Philippines’ service offering, the project is expected to provide 295 GWh of green electricity annually to the Philippines when it comes online in 2027.

Jerome Tan, Group CIO of J&V Energy and President of JNV Philippines, said: “We are pleased to partner with respected local developers to make our first investment in renewable energy in the Philippines. This transaction demonstrates our commitment to the Philippines and brings J&V Energy closer to our target of 500 MW on-line by 2028. We would like to thank the Philippine Board of Investment (BOI) and the Philippine Trade and Investment Center (PTIC) Taipei for facilitating our expansion. in the country.”

According to the latest Philippine Energy Plan (PEP), the Philippines is poised to achieve a renewable energy share of more than 35% of its total energy mix by 2030, with solar (+17.8 GW) and wind (+7.8) expected GW) will play a big role. key role in shaping the Philippines’ energy future.

About J&V Energy

Headquartered in Taipei, J&V Energy is a publicly listed leading circular economy and renewable energy developer with a market capitalization of approximately US$1,000 million (September 30, 2024). J&V Energy has a team of more than 350 renewable energy professionals with expertise in solar, wind, energy storage and water infrastructure. Its regional presence spans Taiwan, Japan, the Philippines and Vietnam. J&V Energy was ranked #1 among CommonWealth’s 100 Fastest-Growing Companies in 2023 and is a member of the MSCI Global Small-Cap Index.

Official website of J&V Energy

https://global.jv-holding.com

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