VinEnergo to develop solar-on-water projects in PH

MANILA: VinEnergo teamed up with SunAsia Energy Incorporated to develop a portfolio of large-scale renewable energy projects.

Set to utilize “Solar on Stilts” technology, the projects will harvest energy using solar panels mounted on pile-supported structures above the water surface—combining renewable energy development with agriculture and fisheries, while serving as a model for future sustainable energy projects. 

In a statement, the Vingroup subsidiary noted that the plan is aligned with the strategy of advancing the Food-Energy-Water Nexus to optimize resource use and create long-term value for communities. 

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ING and SGV & Company acted as exclusive advisors to VinEnergo and SunAsia, respectively.

Expected to have lifetime revenues exceeding $1.5 billion, the projects will boost job creation, catalyze infrastructure investment, and strengthen the Philippines’ energy security. 

Between 2027 and 2028, the two firms will bring into operation three flagship projects that will have a combined installed capacity of 422 megawatt-peak (MWp). These will be placed in the following areas:

Location	Power capacity  (in MWp)
Macabebe, Pampanga	181
Sagay, Negros Occidental	126
Silay, Negros Occidental	115

In a statement, the Vingroup subsidiary noted that the collaboration is expected to deliver reliable renewable energy to the national grid, while supporting the Philippines’ goals of strengthening energy security, reducing carbon emissions, and promoting local economic development.

“Once operational, the projects are expected to supply electricity to approximately 278,000 households and reduce carbon emissions by more than 460,000 tons annually, equivalent to planting around 21 million trees,” the company noted in a statement. 

Within the next 18 months, VinEnergo and SunAsia Energy will work on the engineering design and project implementation. The initial phase will include the selection of engineers, technology providers, and contractors to install nearly 700,000 solar panels mounted on pile structures, as well as approximately 62 kilometers of new transmission lines across Negros and Pampanga.

 “Our partnership with SunAsia Energy on this strategic project portfolio is a clear demonstration of VinEnergo’s regional growth ambitions. We are proud to bring forward solutions that combine sustainable energy development with responsible resource utilization,” VinEnergo Chief Executive Officer (CEO) Nguyen Anh Khoa said.

“Floating solar not only contributes to addressing energy security challenges, but also provides a valuable opportunity to share Vietnam’s development experience in protecting local livelihoods and fostering the parallel growth of the energy and agricultural sectors,” the official added. 

For her part, SunAsia Energy Incorporated Chair and CEO Tetchi Capellan expressed belief that the partnership is driven by the shared commitment to strengthen energy security, support economic growth, improve people's lives, and help protect the planet.

“Through the floating solar model, we are not only developing renewable energy infrastructure but also creating a framework where food production and clean energy generation can thrive together,” she explained.

The partnership marks an important milestone in VinEnergo’s international expansion strategy, while highlighting the capabilities of Vietnamese enterprises in developing pioneering renewable energy models that contribute to ASEAN’s and the world’s sustainable energy transition goals.

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