Singapore-based Novva Group has agreed to acquire the 120-megawatt (MW) San Jose Solar Power Plant in Bukidnon from Mabuhay Power Holdings Corporation, marking the energy infrastructure firm’s first investment in the Philippines as it expands its renewable energy platform across Southeast Asia.
The greenfield solar photovoltaic project, located in Barangay San Jose in the municipality of Quezon, Bukidnon, is expected to generate more than 200 gigawatt-hours of clean electricity annually once operational. Construction is scheduled to begin in the first quarter of 2027, with commercial operations targeted for 2028.
The Philippines is seeking to increase the share of renewable energy in its power generation mix to 35% by 2030 and 50% by 2040, with the government encouraging greater private and foreign investment in the sector to strengthen energy security and support economic growth.
The investment comes as electricity demand across Asia is expected to rise alongside the expansion of data centres, cloud computing and artificial intelligence applications, increasing the need for new power generation capacity.
Novva said the Bukidnon project would become part of its regional energy platform, which combines renewable generation, battery energy storage, grid connectivity and infrastructure financing to support long-term electricity demand across Southeast Asia.
“Power availability has become one of the defining constraints on future growth,” Novva founder and chief executive Steven Liu said in a statement.
“With SJSP, we are securing the strategic infrastructure needed to support the next wave of industrial and digital development. By combining disciplined execution with long-term partnerships, Novva is building a reliable clean energy foundation to power the future of Southeast Asia,” Liu added.
The project is expected to contribute to the Philippines’ renewable energy ambitions while adding clean power capacity to Mindanao, where electricity demand continues to grow alongside industrial and digital development.
Novva said the Bukidnon acquisition forms part of its broader strategy to build renewable energy infrastructure across Southeast Asia and Latin America to meet rising long-term electricity demand.