The two floating solar power projects of ACEN Corp. in Laguna Lake with combined investments of P18 billion are expected to deliver 420 megawatts by 2027.
Ingrid2 Power Corp. will develop a 140-MW peak floating solar power project, while GigaWind1 Inc. will build a 280-MWp floating solar facility in Laguna Lake, based on documents submitted to the Department of Environment and Natural Resources.
The two companies were awarded renewable energy contract area utilization agreement (RECA) by the Laguna Lake Development Authority (LLDA) in August 2023 for the development, construction, installation, testing, commissioning, operation and maintenance of a lake-based solar farm.
The parties aim to produce sustainable and renewable energy to augment the power supply of the national grid and meet the government’s end of transitioning to a clean energy future.
Each floating solar project will generate 200 to 300 jobs during construction and operation phases.
A floating solar PV system has various advantages compared to rooftop and ground-mounted solar PV systems such as a relatively higher energy yield as the cooling effect of the surrounding water helps reduce thermal losses and extends its lifespan.
The use of a floating solar PV system also reduces the need for valuable land area, saves drinking water that would otherwise be lost through evaporation and possibly limits algae growth due to the shading effect of floating solar over water surfaces.
Construction of the projects will commence upon receipt of environmental compliance certificate (ECC) and related permits from the concerned local government units (LGUs) and government agencies.
The Ingrid2 solar project, estimated to cost P6.25 billion, will start construction in the first quarter of 2026, with commercial operation targeted in the third quarter of 2027.
Meanwhile, GigaWind1, estimated to cost P12 billion (P6 billion for each block), aims to start development in the second quarter of 2026 and begin commercial operation by the fourth quarter of 2027.
