The Best Partner for Taiwanese Companies in Green Energy Transition for Overseas Operations: Aiming for 500 MW Capacity Within 5 Years
In recent years, Southeast Asia has seen a exponential rise in demand for renewable energy. Responding to this trend, J&V Energy (6869), a leader in integrated sustainable development and circular economy solutions in Taiwan, is making a bold foray into the Philippines market. On June 17, J&V Energy announced its entry into the Philippines by forming a partnership with SolarNRG, the top player in the Philippine commercial and industrial (C&I) solar photovoltaics sector. The companies will jointly establish a solar independent power producer (IPP) company, SolarX. The new venture will focus on developing the Philippine C&I and utility solar markets, leveraging J&V Energy's Taiwanese experience with a goal to achieve 500 MW of installed capacity within five years, positioning itself as the best partner for Taiwanese companies transitioning their energy use overseas.
To expand its presence in the global renewable energy sector, J&V Energy is reinforcing its commitment to collaboration and strategic partnerships to maximize synergies. J&V Energy Vice President Kai Tan emphasized that the Philippines represents one of Asia’s most rapidly expanding C&I solar photovoltaic markets, endowed with plentiful solar resources. The formation of SolarX, in partnership with SolarNRG, not only signifies J&V Energy’s official expansion into the Philippine market but also showcases its proactive approach to harnessing local opportunities for sustainable energy development.
J&V Energy Chief Investment Officer Jerome Tan noted the high electricity costs in the Philippines, which rank among the highest in Asia. Through its joint venture, SolarX, J&V Energy is poised to assist Taiwanese companies in deploying solar photovoltaic systems within the region. This strategic initiative will enable these companies to access sustainable green power and significantly reduce their electricity expenses. By doing so, J&V Energy aims to boost the competitiveness of Taiwanese businesses and generate substantial value, facilitating their success in the global market. "We provide end-to-end professional services for the development, installation, and maintenance of solar power plants, aiming to help Taiwanese companies in Southeast Asia enhance their international competitiveness and become the best partners for companies in their energy transition journey,” said Tan.
The partner in this collaboration, SolarNRG, is the largest player in the Philippine C&I solar sector. Established in 2014, SolarNRG Philippines traces its roots in providing solar EPC (Engineering, Procurement, and Construction) services in the Netherlands since 2003. The Philippine branch of SolarNRG now boasts nearly 200 skilled professionals dedicated to delivering superior engineering, expert knowledge, exceptional project quality, and comprehensive after-sales service. To date, they have successfully installed over 200 MW of solar photovoltaic systems. Their extensive network includes partnerships with prominent international energy companies like TotalEnergies from France, Skye Renewables, and Maiora Renewables from Singapore, as well as a significant collaboration with the major Philippine power producer, AboitizPower.
Singapore, as well as a significant collaboration with the major Philippine power producer, AboitizPower.
The Philippine government's energy strategy aims for a renewable energy share of 50% in power generation by 2040, with solar photovoltaic capacity targeted to reach 27.2 GW. Yet, as of the end of 2023, the nation has only achieved an installation base of 1.7 GW, indicating substantial room for growth in the solar sector over the next decade.
Seizing this opportunity, J&V Energy is set to capitalize on this growth phase by applying its proven expertise from Taiwan. Through its joint venture with SolarNRG, the newly formed SolarX plans to broaden its scope from the C&I sector to include utility-scale solar power projects. It will also seek to implement Taiwanese-developed methodologies for ground-mounted and fishery and electricity Symbiosis projects. With a target to establish 500 MW of installed capacity within five years, J&V Energy aims to enhance its international footprint and generate superior investment returns.
Simultaneously, J&V Energy is also expanding its presence in Thailand, Vietnam, and Indonesia. Initially focusing on rooftop solar photovoltaic installations for Taiwanese factories in Southeast Asia, the company plans to further develop wind power and energy storage projects. By bringing Taiwanese green energy expertise to Southeast Asia and simultaneously expanding into environmental protection and circular economy fields, J&V Energy aims to become the leading brand in sustainable circular economy development in the Asia-Pacific region.
