The Philippines’ SunAsia Energy and Vietnam’s VinEnergo will jointly develop a 422-MWp solar on water portfolio across Pampanga and Negros Occidental in the Philippines, representing an estimated investment of $406 million.

In a statement on Monday, SunAsia Energy said the two energy companies have reached a strategic partnership for the move. The three projects, targeted for commercial operations between 2027 and 2028, will utilize floating solar technology. They feature solar panels above water areas, allowing aquaculture and fishpond operations to continue beneath and around the installations.

Once operational, the projects can generate enough electricity to power more than 278,000 homes annually while avoiding approximately 460,888 tons of carbon emissions per year.

Over the next 18 months, SunAsia Energy and VinEnergo will work on engineering and project development activities, including selecting maritime engineers, technology providers, and contractors for the installation of close to 700,000 solar panels on stilts and approximately 62 kilometers of new transmission lines.

Tetchi Capellan, CEO and President of SunAsia Energy, said the partnership was born out of a shared resolve to advance energy security, support economic growth, and protect the environment. The integration of aquaculture and energy production presents a compelling case for solar-aquaculture farming given Vietnam’s leadership in shrimp exports and the Philippines’ history in shrimp production, the executive added.

Nguyen Anh Khoa, CEO of VinEnergo, said solar on water offers a unique opportunity to support sustainable energy growth and responsible resource utilization.

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