Singapore-based renewable energy developer Gurīn Energy has announced today the approval of a final investment decision (FID) by its board of directors for the Capas Solar Power Project in the Philippines. This greenfield initiative will transform into a solar farm boasting a peak capacity of 39 megawatts (MW), situated in the Municipality of Capas, Tarlac. The project has secured a 40-hectare site through a 25-year lease agreement with the Philippines’ Bases Conversion and Development Authority (BCDA).
The FID marks a significant advancement for Gurīn Energy’s footprint in the Philippines, where the company maintains a robust pipeline of projects totaling 1 gigawatt (GW). Among these projects is the ongoing construction of the 75MW Palauig Solar Power Plant in Zambales province.
Upon completion, the Capas Solar Power Project is expected to produce sufficient clean energy to power approximately 18,000 homes and prevent over 1 million tonnes of CO2 emissions throughout its operational lifespan.
Mr. Ping Mendoza, the Country Manager for the Philippines at Gurīn Energy, expressed satisfaction at reaching the final investment decision stage for the Capas Solar Power Project. He emphasized Gurīn Energy’s confidence in the Philippines as a key player in renewable energy within Southeast Asia, highlighting the company’s dedication to propelling Asia’s transition towards 100% clean energy.
