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Gurīn Energy reaches FID on Capas Solar Power Project

The project is the regional developer’s second announced solar power project in the Philippines.

Singapore-headquartered renewable energy developer Gurīn Energy today announced that its board of directors has approved a final investment decision (FID) on the Capas Solar Power Project in the Philippines.

The greenfield project will be developed into a solar farm with a peak capacity of 39 megawatts (MW), located in the Municipality of Capas, Tarlac. A 40-hectare site has been secured for the project through a 25-year lease agreement with the Philippines’ Bases Conversion and Development Authority (BCDA).

The FID is a significant step forward for Gurīn Energy’s presence in the Philippines, where the developer has a 1GW-strong pipeline of projects. This includes the 75MW Palauig Solar Power Plant in the province of Zambales, which is currently under construction.

The Capas Solar Power Project will generate enough clean energy to power 18,000 homes and avoid more than 1 million tonnes of CO2 emissions over its lifespan.

Mr Ping Mendoza, Country Manager, Philippines at Gurīn Energy, said: “We are pleased to have reached the final investment decision stage for the Capas Solar Power Plant. It is a testament to Gurīn Energy’s confidence in the Philippines as one of Southeast Asia’s powerhouses for renewable energy, and our commitment to driving Asia’s transition to 100% clean energy.”