1.3 GW floating photovoltaics in the Philippines »reaffirmed«

Singapore-based Blueleaf Energy, part of investment firm Macquarie Capital, and Philippine renewable energy company SunAsia Energy are planning floating photovoltaics (FPV) solar power plants with 1.3 gigawatts of total capacity on the Laguna de Bay lake on the Philippine island of Luzon. The partnership, which was announced by the two companies last June – at the time without naming a specific project – has now been »reaffirmed« by the signing of a formal letter of intent during a visit to Singapore by Philippine President Ferdinand Marcos Jr.
According to the agreement, Maquarie plans to invest $1.2 billion in the project. Blueleaf says it is pursuing a project portfolio in the Philippines with a total of two gigawatts of capacity (including the Laguna de Bay FPV project) and more than $2 billion in investment. Implementation is expected to take place over the next five years.

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