Independent Renewable Energy Platform (IPP) athein realizes 2 GWp of solar energy in the Philippines

Singapore athein IPP platform, recently established as a partnership between four Southeast Asian companies, is currently developing more than 500 MWp of utility-scale, commercial and industrial solar energy in the Philippines. The company aims to have realized 2 GWp of operational projects by 2030.

“The new government of the Philippines is sending some groundbreaking signals to the industry. President Marcos is clearly in favor of renewable energy and with the foreign ownership bottleneck resolved, we will see exponential growth in domestic and foreign investment in the country said Milan Koev , co-founder and CEO of athein.

The Philippines (along with Singapore ) is among the most liberalized energy markets in ASEAN, but also charges the highest retail electricity rates in the region. The country's plans to achieve an additional 20 GWp of renewable energy by 2030, coupled with abundant solar irradiation areas and faster growth in power demand, translate into huge potential.

Edmund Yen , co-founder and CCO of athein added: “We are currently developing several utility-scale projects, the largest of which is 300 MWp, but at the same time we are evaluating more than 13,000 hectares of land suitable for solar power plants. Existing grid infrastructure remains an obstacle to connecting large-scale projects, particularly outside Luzon Island, so we are considering multiple alternatives such as microgrids 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 power and 7,856 MW of wind power to become the largest producer of green power and Vietnam as the leading producer of renewable energy source in Southeast Asia.

Over athein Holding:

athein is a partnership between ATAD Steel Structure Corporation, Hexagon Holdings, Inpos JSC. and Invenic Inc. The platform company is committed to helping its multinational manufacturing customers achieve zero net emissions and plans to operate 1 GWp of renewable assets by 2026 and 5 GWp by 2030 across India , the Philippines and Vietnam .

Source:prnewswire.com