CN Green Roof Asia Pte. Ltd. (CNGRA), a leading solar rooftop platform in ASEAN, plans to develop large-scale solar farm projects and integrated battery energy storage system (BESS) projects in the Philippines, with investments reaching P10 billion over the next two years.
“Building on our extensive experience in solar rooftops, we are excited to enter the utility-scale market in the Philippines. We have developed a robust pipeline of high-impact projects and plan to begin construction on our first project by mid-2025,” CNGRA chief executive Rob Santler said in a statement.
The company is looking at a pipeline of 300 megawatts of ground-mounted solar and commercial and industrial (C&I) rooftop projects, which are expected to be developed and constructed within the next two years.
The generation capacity for BESS portfolio is still being studied.
CNGRA is a joint-venture of Climate Fund Managers (CFM)-Climate Investor One and Norfund, for the investment, construction and operation of rooftop solar C&I in Vietnam, Indonesia and the Philippines. It is headquartered in Singapore.
CFM, a blended finance investment manager, and Norfund, the Norwegian government’s investment fund for developing countries, established CNGRA as a joint venture company in 2021.
CNGRA plans to put up a 20-MW solar project with investments of P600 million for its first project in Hermosa, Bataan.
CNGRA also announced its partnership with Solana Renewable Energy Holdings (Solana), marking a crucial step in its journey to become Southeast Asia’s leading C&I solar platform, bringing renewable energy to all industries and building a greener world for generations to come.
Its initiatives in the country are expected to reduce up to 150,000 tons of carbon emissions annually and create 1,400 jobs over the next five years, while contributing to the nation’s goal of achieving 35-percent renewable energy in the power mix by 2030.
CNGRA welcomed guests in their new office in Makati City on Sept. 6, 2024, including senior management from CNGRA’s investors CFM and Norfund, along with representatives from the European Union Delegation, Dutch Embassy, and Norwegian Embassy, plus dedicated partners from Vietnam.
Be the first to comment