News

Manila, Philippines – Prime Infrastructure Holdings, Inc. (Prime Infra) recently announced the conclusion of an agreement with Solar Philippines Power Project Holdings, Inc. (Solar Philippines) through which it has acquired a 50% stake in Solar Philippines Tanauan Corporation.

The transaction, which involves an investment of Php2 billion and management control for Prime Infra, marks company’s second investment in projects with Solar Philippines. In addition to its investment in Solar Philippines Tarlac Corporation in 2020, this brings the total investment of Prime Infra in projects with Solar Philippines to Php3.5 billion, a testament to Prime Infra’s commitment to sustainability and growing its partnership with Solar Philippines.

Both investments combined will result in over 340 MW of solar projects located in Concepcion, Tarlac, Tanauan, Batangas and Maragondon, Cavite. The three projects will create over 2,000 jobs during construction and over 100 jobs during operations. When completed, these will be able to power over 200,000 homes. This is equivalent to the displacement of over 240,000 tons of coal per year or 6M tons of coal for its 25-year economic life.