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TotalEnergies, in partnership with Philippine renewable energy developer Nextnorth, has reached financial close and begun construction on a major 440MW solar power project in the Philippines, marking a significant expansion of the country’s utility-scale renewable energy capacity.

The project carries a total investment of approximately $300 million USD (around €275 million) and is located in Ilagan City, Isabela Province. Once operational, the solar facility will contribute substantially to the Philippines’ efforts to scale up clean electricity generation and reduce dependence on imported fossil fuels.

The development will be jointly owned by TotalEnergies (65%) and Nextnorth (35%), with financing secured through a consortium of international lenders including Sumitomo Mitsui Banking Corporation, ING Bank, and Standard Chartered.

The solar plant is expected to be operational by the end of 2027 and will generate approximately 13.5 terawatt-hours of electricity over 20 years. More than half of the output will be supplied through long-term agreements with commercial and industrial customers via retail electricity suppliers, while the remainder will be delivered to the national grid under the Philippines’ Green Energy Auction Program.

The project is part of TotalEnergies’ broader strategy to expand its global renewable energy portfolio, particularly in Asia, where demand for scalable clean power solutions continues to grow. According to the company, the initiative supports its long-term goal of increasing integrated renewable electricity production alongside wind, solar, and storage assets across multiple markets.

Nextnorth highlighted the project’s role in improving energy security in the Philippines, noting that rising electricity demand and reliance on imported fuels have increased the need for domestically generated renewable energy. The project is also expected to support job creation during construction and operations, while contributing to the country’s decarbonisation targets.

With financial close now completed, construction activities have officially commenced on one of the Philippines’ largest internationally financed solar developments to date.

Source: totalenergies.com