TotalEnergies, Nextnorth launch $300m 440MWp Philippine solar plant
TTE•TotalEnergies and Nextnorth have secured financial closure for a $300m, 440MW-peak solar plant in Isabela, Philippines, where TotalEnergies holds 65% and Nextnorth 35%. The project will begin operations in late 2027, generate 13.5 TWh over 20 years and sell over half its output under long-term contracts.
1. Project Launch
TotalEnergies and Nextnorth have initiated construction of a 440MW-peak solar power plant in Ilagan, Isabela Province, Philippines, after achieving financial closure.
2. Ownership and Financing
TotalEnergies holds a 65% stake and Nextnorth 35%, with an estimated $300m investment financed by Sumitomo Mitsui Banking, ING Bank and Standard Chartered.
3. Power Generation and Offtake
Once operational in late 2027, the plant will generate 13.5 TWh over 20 years, selling more than half under long-term agreements with AdventEnergy and PrimeRES and supplying the remainder to the national grid.
4. Strategic Significance
This project is TotalEnergies’ largest international solar financing in the Philippines, contributes to its Masdar joint venture’s 9GW Asian renewables portfolio and advances the company’s energy transition strategy.
