AFRY Appointed Technical Advisor for World’s Largest 3.5 GWp Solar + 4.5 GWh Battery Project in the Philippines

AFRY Appointed Technical Advisor for World’s Largest 3.5 GWp Solar + 4.5 GWh Battery Project in the Philippines

(IN BRIEF) AFRY is serving as lenders’ technical advisor for Terra Solar Philippines Inc.’s 3,500 MWp solar and 4,500 MWh battery storage project—the largest globally. Backed by Meralco’s MGreen and financed by six banks, the facility spans Nueva Ecija and Bulacan and will come online in two phases (2026 and 2027). AFRY conducted the crucial technical due diligence for financing and will provide construction monitoring, O&M support, and budget reviews. The project will power 2.4 million homes, cut 4.3 million t of CO₂ annually, and improve grid stability and energy security.

(PRESS RELEASE) SOLNA, 3-Jul-2025 — /EuropaWire/ — AFRY has been appointed as the lenders’ technical advisor (LTA) for Terra Solar Philippines Inc.’s groundbreaking solar-plus-storage development—the world’s largest of its kind. Backed by MGreen (Meralco’s renewable-energy arm) and financed by a consortium of six banks, the project combines 3,500 MWp of solar capacity with 4,500 MWh of battery storage across six municipalities in Nueva Ecija and Bulacan.

AFRY led the initial technical due diligence that underpinned one of the Philippine energy sector’s largest financing deals. As LTA, AFRY will now oversee construction monitoring through to completion in 2026 and 2027, followed by ongoing operations-and-maintenance support and annual budget reviews. Upon commissioning, the facility will connect to the grid via a dedicated 13 km, 500 kV transmission line.

Once fully operational, the Terra Solar project will deliver clean energy to roughly 2.4 million households and cut carbon emissions by an estimated 4.3 million tonnes annually. In addition to reducing greenhouse gases, the initiative will bolster grid stability, enhance energy security, and strengthen long-term resilience for the Philippines.

“The Terra Solar initiative marks a pivotal advance in the Philippines’ energy transition—reinforcing security, resilience, and a low-carbon future,” said Petteri Harkki, AFRY’s Regional Director for Asia. “We’re proud to lend our expertise as technical advisor to a project that will yield enduring environmental and economic benefits.”

AFRY provides engineering, design, digital and advisory services to accelerate the transition towards a sustainable society. We are 18,000 devoted experts in industry, energy and infrastructure sectors, creating impact for generations to come. AFRY has Nordic roots with a global reach, net sales of 27 BSEK and is listed on Nasdaq Stockholm.

Making Future

Learn more about AFRY’s operations in the Philippines

AFRY stands as one of the largest engineering consulting companies in the Philippines, supporting the country’s transition towards clean energy by serving project owners, lenders and contractors with technical, market and environmental and social advisory services.

To date, AFRY has been involved in over 45 solar photovoltaic projects in the Philippines, with a planned capacity of 7GW. AFRY is also one of the most experienced Lenders’ Technical Advisors in the country, having successfully delivered more than 30 LTA assignments for renewable energy and conventional power plant projects.

Media Contacts:

Petteri Härkki, Regional Director Asia, Renewable Energy and Thermal Power
petteri.harkki@afry.com

Virginia Ferrari, Communications Manager, Energy Division
virginia.ferrari@afry.com

SOURCE: AFRY