The Philippines welcomes heavyweight cooperation in the field of new energy. MGEN, a power generation platform under Manila Power, has reached a cooperation intention with VinEnergo, a Vietnamese energy company, to jointly develop a 25000 megawatt renewable energy project, which will be accompanied by energy storage and charging pile facilities. This scale exceeds the current national peak electricity load in the Philippines, and its implementation will deeply change the local energy landscape.

The cooperation between the two parties covers photovoltaic, wind power, and large-scale energy storage power plants, with an equivalent stable power supply scale of 5000 megawatts after completion. The logic of energy development in the Philippines has undergone a transformation. In the past, the industry only focused on power generation. Now, influenced by the demand of the power grid and mandatory allocation and storage policies, energy storage has become an essential supporting factor for new energy grid connection and profitability. Comprehensive energy solutions have become the core of competition. Keywords:Foreign construction news network,Southeast Asia engineering information network,Overseas engineering construction,Foreign engineering construction news

The two major markets in the Philippines are promoting foreign investment: renewable energy projects allow foreign investment to fully control, and large-scale wind and solar projects are required to support energy storage. Local leading enterprises have joined forces with Vietnamese capital to invest heavily in construction projects, driven by high local electricity prices, rising electricity demand, ample potential for new energy development, and sustained incentive policies to attract overseas capital. In the future, the focus of industry competition will shift towards energy storage technology and comprehensive solutions, and the upstream and downstream industrial chains of energy storage and integrated equipment will usher in development opportunities.Editor/Gong Ziwei