Tera 7 to invest P17.6B in Pangasinan solar project
TERA Renewables 7 Corp. (Tera 7), a subsidiary of CleanTech Global Renewables Inc. (CTGRI), will set up a solar power plant in Labrador town with an investment of P17.62 billion.
Named as the Labrador 1 Solar Power Project, it is expected to have a peak capacity of 451.38 megawatts, expanding the output of CTGRI’s existing projects in the province.
According to the company’s environmental statement, construction of the facility is set to begin this year and targeted for completion by 2026.
Tera 7 said the Labrador 1 SPP will help provide Luzon with a reliable and affordable baseload power supply, which is crucial for meeting the increasing energy demands in the region.
In 2023, the DOE granted Tera 7 a solar energy operating contract for the project. Currently, the company is seeking an amendment to expand the solar contract to include additional land, increasing the project area from 271.94 hectares to a total of 296.45 hectares.
Electricity generated from the solar facility will be transmitted through a line connecting to the Bolo substation of the National Grid Corporation of the Philippines in Labrador. (Ahikam Pasion)
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