CN Green Roof Asia, a Vietnam-based solar rooftop and battery provider, is making its foray into the Philippine renewable energy market with an investment plan totaling P10 billion over the next two years. The company aims to expand its portfolio in the local market by focusing on solar and battery projects.
In a statement on Tuesday, the company announced an initial investment of P600 million for the construction of a ground-mounted solar farm in Hermosa, Bataan. The plant, which will have a capacity of 20 megawatts (MW) peak, is slated to begin construction early next year, with commercial operations expected by the third quarter of 2025.
Rob Santler, Chief Executive Officer of CN Green Roof, expressed enthusiasm for the company’s entry into the Philippines. “Building on our extensive experience in solar rooftops, we are excited to enter the utility-scale market in the Philippines. We have developed a robust pipeline of high-impact projects,” Santler said.
The company’s expansion plans include increasing its capacity in the Philippines to 300 MW within the next two years. This move is supported by Climate Fund Managers, one of Green Roof’s shareholders, which has already made equity investments in clean water platform Tubig Pilipinas and is planning a bioenergy project in northern Luzon.
CN Green Roof Asia was established in 2021 as a joint venture between Climate Fund Managers, a blended finance investment manager, and Norfund, the Norwegian government’s investment fund for developing countries. The company has also partnered with Solana Renewable Energy Holdings for its projects in the Philippines.
The company’s entry is expected to support the Philippine government’s goal of increasing the share of clean energy in the country’s power generation mix to 35 percent by 2030.
