Vietnam’s VinEnergo and Philippine developer SunAsia Energy have agreed to build 422 megawatts of solar power spread across three sites in the Philippines, using a design that raises panels on steel piles above active fish ponds rather than floating directly on the water. This approach aims to allow fish farming to continue beneath the panels without interruption, thereby addressing conflicts over water use and fishing rights that have slowed similar floating solar projects elsewhere in Southeast Asia. VinEnergo is the energy arm of Vietnam’s Vingroup, and the deal is the company’s first project in the Philippines.
How solar on stilts Different from floating solar
Traditional floating solar setups typically mount panels on plastic pontoons that rest directly on the water’s surface, covering the water below and raising concerns about its impact on aquatic life. According to a joint announcement from VinEnergo and SunAsia Energy, the system used in the project, described as solar on stilts, instead drives steel piles into the bottom of the pond and installs panels on top, keeping the water column open enough to allow boats to pass through and fishing to continue unhindered. This rigid, pile-supported structure was also chosen taking into account the Philippines’ location, as the country sits within the typhoon belt, where a fixed structure driven into the seabed can generally withstand inclement weather conditions better than pontoon-based systems floating on the surface.
Where three solar plants will be built
The maximum capacity of 422 MW is divided over three different sites. According to solar industry publication PV Tech, the largest plant, at 181 MW peak, is planned for Macabebe in Pampanga province, north of Manila, while the remaining two plants are located in Negros Occidental in the Visayas region, a 126 MW peak site in Sagay, and a 115 MW peak site in Silay. In total, the three sites will use around 700,000 solar panels, supported by approximately 62 kilometers of new transmission lines built to connect the plants to the grid.
What do companies expect from the finished project?
According to the same joint announcement from WinEnergo and SunAsia Energy, the companies expect the full plant to be operational once it is operational, powering approximately 278,000 homes and cutting carbon emissions by more than 460,000 tons annually, a figure that the companies compare to planting approximately 21 million trees. The companies also say the project is expected to generate more than $1.5 billion in lifetime revenue. The deal was signed in Hanoi on June 26, with VinEnergo CEO Nguyen Anh Khoa and SunAsia CEO and Chairperson Techie Capellan signing the agreement, and the plants are targeted to come online in 2027 and 2028.
Why was the project announced during the signing ceremony by officials?
According to the joint announcement, the agreement was signed with Philippines Energy Secretary Sharon Garin and Vietnam’s Ambassador to Manila Lai Thai Binh. The signing also took place while the Philippines was hosting the ASEAN Summit, giving the deal a commercial as well as a diplomatic dimension. According to the companies’ own statements, Tetchie Capellan described the model as one where food production and clean energy production can work together, while VinEnergo framed the approach as an extension of its experience protecting local livelihoods while expanding electricity production in Vietnam.
Why is the Philippines turning to water for solar energy potential?
The Philippines is an archipelago of more than 7,000 islands, and most of its available flat land is already used for agriculture, leaving limited space for utility-scale solar development on land alone. This is not SunAsia’s first attempt at combining solar energy with existing aquaculture. In 2023, the company and partner Blueleaf Energy secured the rights to develop 1.3 gigawatts of floating solar in Laguna Lake, the country’s largest freshwater lake, a project covering approximately 1,000 hectares, starting in phases by 2030. The WinEnergo partnership extends this approach beyond one large lake and to working fish ponds in two different provinces.
What still needs to happen before construction begins
As of the signing, construction has not yet started. The agreement marks the beginning of an approximately eighteen-month period covering engineering work, technology selection and contractor arrangements before physical construction begins, with commissioning targeted for 2027 and 2028. ING advised VinEnergo on the transaction, while SGV&Co advised SunAsia Energy. Whether the pile-supported design performs as expected at scale across three different sites, and whether fish farming activity continues smoothly beneath the panels once built, remains to be demonstrated as the project moves from negotiation to construction in the coming months.