MTerra Solar

In March 2025, Actis acquired a stake in Terra Solar Philippines, Inc. (“MTerra Solar”), with MGEN Renewable Energy, Inc. (MGreen), through its subsidiary SP New Energy Corporation (“SPNEC”).

MTerra Solar represents one of the largest mid merit renewable generation capacities in the Philippines, with 850MW (for 12-hours daily on average) contracted capacity over 20 years through a power supply agreement with Meralco, the Philippines’ largest distribution utility. The project will have 3.5GW of installed solar PV capacity and 4.5GWh of installed battery energy storage system (BESS) capacity, making it one of the largest integrated renewable and energy storage projects globally by battery storage capacity once fully commissioned.

The project covers c.3,500 hectares or the equivalent to the size of c.83,300 basketball courts, and will provide electricity to approximately 2.4 million Philippines households and avoid carbon emissions by c.3.6 million tonnes per year by displacing coal.