New 440 MW Solar Project in Ilagan Advances Philippines Energy Transition Through TotalEnergies and Nextnorth Partnership

New 440 MW Solar Project in Ilagan Advances Philippines Energy Transition Through TotalEnergies and Nextnorth Partnership

(IN BRIEF) TotalEnergies and Nextnorth have reached financial close and begun construction of a 440 MW solar power project in Ilagan City, Philippines, with operations expected by the end of 2027. The project, valued at around $300 million, is jointly owned by TotalEnergies (65%) and Nextnorth (35%) and will generate an estimated 13.5 TWh of electricity over 20 years. More than half of the output is secured through long-term agreements with AdventEnergy and PrimeRES, while the rest will be supplied to the national grid. Backed by financing from major international banks, the development represents the largest internationally funded solar project in the Philippines. The initiative supports the country’s renewable energy goals, enhances energy security, and contributes to decarbonisation efforts while strengthening TotalEnergies’ growing renewable portfolio in Asia.

(PRESS RELEASE) PARIS/ MANILA, 30-Apr-2026 — /EuropaWire/ — TotalEnergies and Nextnorth have reached financial close and commenced construction of a large-scale solar power project in the Philippines, marking a significant milestone in the country’s renewable energy expansion. The 440 MWp facility is being developed in Ilagan City, Isabela Province, and is expected to begin operations by the end of 2027.

The project is structured as a joint venture, with TotalEnergies holding a 65% stake and Nextnorth owning the remaining 35%. Once completed, the solar plant is projected to generate approximately 13.5 TWh of electricity over a 20-year period, contributing to the Philippines’ efforts to increase renewable energy capacity and reduce reliance on imported fuels.

A substantial portion of the plant’s output—more than half—has already been secured through long-term agreements with retail electricity suppliers AdventEnergy and PrimeRES, which will deliver power to commercial and industrial customers seeking to decarbonize their operations. The remaining electricity will be supplied to the national grid under the government’s Green Energy Auction Program.

The project represents an investment of approximately $300 million and is supported by financing from three international banks: Sumitomo Mitsui Banking Corporation, ING Bank, and Standard Chartered. This financing package marks the largest international funding arrangement for a solar energy project in the Philippines to date.

Olivier Jouny, Senior Vice President Renewables at TotalEnergies, described the development as a key contribution to the country’s transition toward a cleaner energy mix. He noted that the project also aligns with the company’s broader renewable energy ambitions in Asia, including its joint venture with Masdar to build a multi-country portfolio of renewable assets.

Miguel Mapa, President and Chief Executive Officer of Nextnorth, emphasised the importance of strengthening domestic energy production in the Philippines. He highlighted that the project will provide reliable and sustainable electricity while supporting economic development, job creation, and long-term energy security.

The solar facility forms part of TotalEnergies’ expanding renewable energy portfolio, which includes solar, wind, and flexible generation assets designed to deliver stable and low-carbon electricity. As of April 2026, the company has nearly 36 GW of renewable generation capacity globally and is targeting more than 100 TWh of net electricity production by 2030.

About Nextnorth

Nextnorth is a Philippines-focused renewable energy developer with a portfolio of clean energy projects totaling more than 800 MW in active development and construction. Founded in 2022 and headquartered in Metro Manila, the company develops, finances, and delivers bankable, utility-scale renewable capacity that supports the Philippines’ energy transition, energy security, and long-term economic growth.

TotalEnergies and electricity

TotalEnergies is building a competitive portfolio that combines renewables (solar, onshore wind, offshore wind) and flexible assets (CCGT, storage) to deliver clean firm power to its customers. By the end of April 2026, TotalEnergies holds almost 36 GW of gross renewable power generation capacity and aims to achieve over 100 TWh of net electricity production by 2030.

About TotalEnergies

TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.

TotalEnergies Contacts

• Media Relations: +33 (0)1 47 44 46 99 l presse@totalenergies.com l @TotalEnergiesPR
• Investor Relations: +33 (0)1 47 44 46 46 l ir@totalenergies.com

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Cautionary Note
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. TotalEnergies SE has no liability for the acts or omissions of these entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).

SOURCE: TotalEnergies