Clean-tech developer SunScout Holding Ltd. has inked a memorandum of understanding (MoU) with developer Alta Renewables to build, own, and operate an 87.5-megawatt-peak (MWp) solar-plus-storage portfolio across the Philippines.
Under the terms of the deal, SunScout will fund the full construction of four shovel-ready plants, representing an estimated capital investment of US$87.5 million (AU$133 million), while retaining long-term ownership and operating rights.
The portfolio features four installations across key provinces:
- AKELCO (Aklan): 25.0 MWp with 10.0 MWac / 27.5 MWh battery storage, locked in under a 20-year power supply agreement with Aklan Electric Cooperative at a fixed Php 6.00/kW.
- FLECO (Laguna): 12.5 MWp paired with 10.0 MWac storage; 20-year power supply agreement with First Laguna Electric Cooperative at a fixed Php 4.85/kWh
- ILECO 3 (Iloilo): 25.0 MWp with 20.0 MWac / 70 MWh storage, with scope for a further 25 MWp expansion.
- ZAMECO II (Zambales): 25.0 MWp featuring 10.0 MWac / 27.5 MWh storage; 20-year power supply agreement with Zambales II Electric Cooperative at a fixed Php 5.79/kWh.
SunScout targets a project-level internal rate of return (IRR) of at least 10 per cent. Following commercial operation, the firm plans to secure project-level debt financing of roughly 70 per cent to recycle capital into future builds.
“This is a BOO model at its best,” said Edwin Cywinski, Chairman and CEO of SunScout.
“Alta Renewables gets these projects to shovel-ready, and we bring the capital to build them — then we own and operate them for the next 20 years under contracted, fixed-price agreements.
“That’s exactly the kind of durable, growing earnings stream we want on our balance sheet, and with more than 230 additional megawatts already in Alta’s pipeline, this will be a partnership we expect to keep growing for years to come.”
Alta Renewables, which secured land rights, permitting, and offtake terms, will remain involved as a co-development and operations partner. Alta also holds an option to co-invest for up to 33 per cent of the equity in each asset.
Beyond the core portfolio, the two companies plan to negotiate an overarching framework agreement, positioning Alta as SunScout’s preferred partner for an additional pipeline exceeding 230 MWp in the region.
Definitive project agreements are slated for execution around August 24, with financial close on the first site expected in the fourth quarter of 2026.
