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SunScout and Alta Renewables Sign MOU to Build, Own, and Operate 87.5 MW Solar-Plus-Storage Portfolio in the Philippines

SNSC
  • SunScout Holding Limited signed an MOU with Alta Renewables to build, own, and operate four solar-plus-storage projects totaling 87.5 MWp in the Philippines.
  • The portfolio includes AKELCO (25 MWp), FLECO (12.5 MWp), ILECO 3 (25 MWp, with potential to reach 50 MWp), and ZAMECO II (25 MWp).
  • Each project will operate under 20-year fixed-price power supply agreements with local electric cooperatives, with rates ranging from Php 4.85 to Php 6.00 per kWh.
  • SunScout expects to invest approximately USD 87.5 million to cover construction, engineering, and battery storage integration at an estimated cost of USD 1 million per MWp.
  • The partnership targets a project-level internal rate of return (IRR) of at least 10% based on contracted revenue streams.
  • Alta Renewables will serve as the co-development and operations partner, retaining the option to co-invest up to 33% equity in each project.
  • SunScout plans to implement project-level financing with approximately 70% debt once plants reach commercial operation to recycle capital into new developments.
  • A pipeline of more than 230 additional MWp of Build-Own-Operate projects is currently under discussion, including 25 MWp at ILECO 3, 25 MWp with CAPELCO, and 99 MWp with CAGELCO II.
  • Definitive project agreements are targeted for execution by August 24, 2026, with financial close for the first project expected in the fourth quarter of 2026.
  • Ready-to-build status is targeted for September 2026 for AKELCO and December 2026 for FLECO, ILECO 3, and ZAMECO II.