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MANILA, Philippines and SINGAPORE, April 22, 2024 /PRNewswire/ -- Trina Solar, a global leader in smart PV and energy storage solutions, and Philippine renewable energy developer PetroGreen Energy Corporation (a subsidiary of publicly-listed PetroEnergy Resources Corporation, a member of the Yuchengco Group of Companies) signed a master supply agreement (MSA) yesterday to facilitate the Philippines' solar energy expansion.
(L-R) Vanessa G. Peralta, Assistant Vice President for Corporate Communication, PetroGreen Atty. Maria Carmela D. Hautea, Associate Counsel, PetroGreen Maria Victora M. Olivar, Vice President for Commercial Operations & Business Development, PetroGreen Todd Li, President, Trina Solar Asia Pacific Elva Wang, Head of Southeast Asia, Trina Solar Asia Pacific Theresa Roperez, Country Manager (Philippines), Trina Solar Asia Pacific
Under the MSA, Trina Solar will supply 117MW of high-performance PV solar modules to various projects in the Philippines spearheaded by PetroGreen's subsidiary, Rizal Green Energy Corporation (RGEC).
Combining Trina Solar's cutting-edge solar technology with PetroGreen's extensive experience in the Philippine renewable energy sector, this partnership is poised to significantly contribute to the Philippine government's target of 35% renewable energy by 2030.
Trina Solar and PetroGreen has forged a steadfast partnership since 2015. The collaboration has already seen success with the delivery of 27MW of modules to PetroGreen's Dagohoy solar PV project on the island of Bohol. This project – which is reportedly the first large-scale solar farm on the island – is due to be completed this year. It aims to help the island province reduce its dependence on fossil fuels.
Building on this foundation of success, Trina Solar will also supply modules to PetroGreen's projects including those in the provinces of Nueva Ecija, Pangasinan, and Isabela.
Altogether, these projects will utilise more than 129,000 modules, generating an estimated annual energy yield of 129.14GWh. This amount of electricity is sufficient to power 53,800 Philippine homes each year based on average household consumption.
Todd Li, President of Trina Solar Asia Pacific, and Maria Victoria M. Olivar, PetroGreen's Vice President for Commercial Operations & Business Development signed the MSA in Singapore.
The collaboration, as outlined in the MSA, underscores the commitment of both entities towards a sustainable future powered by clean energy.
Elva Wang, Head of South-East Asia, Trina Solar Asia Pacific said: "The Philippines boasts immense potential to harness solar energy to meet its rising energy demands. We are thrilled to partner with PetroGreen, a like-minded leader, to unlock this potential. This expansion of our partnership underscores our mutual commitment to long-term collaboration and the continued growth of renewable energy initiatives in the Philippines. Together, we remain steadfast in our pursuit of a sustainable future powered by clean energy."
"This collaboration seamlessly aligns with Trina Solar's mission to drive sustainable development through innovative solar solutions. By expanding our footprint in the Philippines and forging long-term partnerships with industry leaders like PetroGreen, we are confident that together, we can significantly contribute to the Philippines' clean energy goals and solidify Trina Solar's position as a key player in the country's solar revolution."
Furthermore, the agreement allows PetroGreen to explore a range of module types offered by Trina Solar, including its industry-leading n-type iTOPCon Advanced cell technology, Vertex products which can be used for various applications like utility and commercial and industrial (C&I). This flexibility allows PetroGreen to select the most suitable modules for its projects, helping to optimize performance and efficiency.
While the current MSA focuses on the supply of solar modules, both parties acknowledge the potential for future collaboration in other areas. This includes the exploration of solar tracker systems and battery energy storage systems (BESS). This openness to expanding the partnership signifies a long-term commitment to innovation and comprehensive renewable energy solutions.
"Our continued partnership with Trina Solar signifies our commitment in ensuring that highest quality components and innovative technologies are deployed in our solar projects," says Maria Victoria M. Olivar, PetroGreen's Vice President for Commercial Operations & Business Development. "We are delighted that this cooperation will significantly boost Philippine's energy transition to renewable energy through solar power projects and will contribute to achieving a low-carbon future," adds Olivar.
The Philippines has ambitious climate goals, aiming to reduce greenhouse gas emissions by 75% by 2030 and achieve 20GW of renewable energy capacity by 2040, in line with its commitments under the Paris Agreement and the National Renewable Energy Program. Trina Solar and PetroGreen, through this collaborative effort, are actively supporting the Philippines in achieving these vital targets.
About Trina Solar
Founded in 1997, Trina Solar Co., Ltd. (stock symbol: Trina Solar; stock code: 688599) is mainly engaged in PV products, PV systems and smart energy. PV products include R&D, production and sales of PV modules. PV systems consist of power stations and system products. Smart energy mainly comprises PV power generation and operation & maintenance, smart solutions for energy storage, smart microgrid, and development and sales of multi-energy systems. With the strategic goal of "Creating a new industrial ecosystem led by Trina Solar, and promoting Trina Solar as a leader in smart PV and energy storage solutions ", we are committed to leading the way in smart PV and energy storage solutions and facilitating the transformation of new power systems for a net-zero future. On June 10, 2020, Trina Solar was listed on the Science and Technology Innovation Board (STAR Market) of the Shanghai Stock Exchange (SSE). It is the first PV and energy storage company that has gone public on the STAR Market providing PV products and systems, as well as smart energy.
About PetroGreen Energy Corporation
PetroGreen Energy Corporation (PGEC), a Yuchengco Group of Companies affiliate, was formed in 2009 as the renewable energy holding unit of publicly-listed company PetroEnergy Resources Corporation (PERC) and is a joint-venture with Kyuden International Corp. (KIC), the overseas investment unit of Kyushu Electric Power of Japan. PGEC has investments in 32MW Maibarara Geothermal Power Project in Batangas, 50MW Nabas Wind Power Project in Aklan, and 70MWdc Tarlac Solar Power Project in Tarlac. In 2023, it formed a new subsidiary, the Rizal Green Energy Corporation (RGEC) to undertake PGEC's RE expansion in the country. PGEC is currently developing large scale and rooftop solar power projects all over the Philippines. In 2022, PGEC, in partnership with Denmark's Copenhagen Energy, was awarded with service contracts to develop three (3) offshore wind power sites in Northern Luzon, Northern Mindoro, and East Panay with the potential to generate a total capacity of 4 GW.
