Gunkul Engineering has partnered with SunAsia Energy Inc. for the construction of the largest floating solar project in the region which costs over $1 billion.
The project is envisioned to reach approximately one gigawatt (GW) in installed capacity.
‘This milestone comes at a defining moment as the Philippines hosts the Asean Energy Ministers’ Meeting in October this year. The partnership also reflects the joint vision of the Philippines and Thailand to forge meaningful collaboration, drive innovation, and create an impact that extends well beyond our borders,’ said SunAsia Energy CEO and President Tetchi Capellan.
Gunkul is a listed energy and infrastructure company with a presence in renewable energy (RE), engineering, procurement and construction (EPC), and electrical equipment. Listed on the Stock Exchange of Thailand since 2010, Gunkul has built a diversified portfolio of RE assets and engineering capabilities, making it an integrated player in Asia’s evolving clean energy landscape.
Before Gunkul’s entry, Blueleaf Energy Philippines, a Macquarie Capital portfolio company, had been involved in the project since 2021, providing development and funding support. Blueleaf Energy Philippines worked alongside project partners to advance one of the Philippines’s most significant renewable energy initiatives.
‘SunAsia is working with floating solar experts across the region, drawing on a century of engineering knowledge and experience to design for the future while anticipating risks today and building resilience for the years ahead,’ SunAsia Energy Inc. Vice President Karlo Abril said.
SunAsia has secured the largest number of floating solar projects awarded in the fourth round of GEA, totaling 13 projects with a combined capacity of 949 megawatts. These projects represent a major milestone in advancing renewable energy in the Philippines, reducing dependence on fossil fuels while promoting sustainable growth for communities and businesses alike.