₱62.5-Billion Project: SunAsia and Thailand’s Gunkul to Build 923 MWp Floating Solar Project on Laguna Lake
Homegrown renewable developer SunAsia Energy Inc. has joined forces with Thailand-based energy and infrastructure firm Gunkul Engineering Public Company Limited to build a ₱62.5-billion ($1-billion) floating solar project on Laguna Lake.
The cross-border partnership was formalized during a commitment ceremony in Makati City attended by Department of Energy (DOE) Secretary Sharon Garin, SunAsia President and CEO Tetchi Capellan, and Gunkul CEO Naruechon Dhumrongpiyawut. Comprising seven floating solar facilities with a total capacity of nearly 923 megawatts-peak (MWp), scaling to about 1 gigawatt (GW), the mega-development is set to become the largest floating solar installation in Southeast Asia upon target commercial operation by late 2027.
Strategic Bilateral Ties & Responsible Energy Growth
Beyond boosting domestic energy supply, the Department of Energy highlighted that the joint initiative marks a significant milestone in strengthening economic, trade, and investment ties between the Philippines and Thailand.
During the ceremony, Secretary Garin emphasized that every megawatt of clean power contributes directly to a more resilient energy grid. She also stressed that project execution must carefully balance national clean energy goals with localized environmental stewardship. Specifically, development plans must take into account the interests of communities surrounding Laguna Lake, ensuring the protection of local fisherfolk livelihoods, the safeguarding of aquatic ecosystems, and active community participation throughout both the construction and operational phases.
“Every successful renewable energy project strengthens our energy security. Every investment brings jobs and opportunities to our communities. And every megawatt of clean energy moves us closer to a more resilient future for the Filipino people,” Department of Energy Secretary Sharon S. Garin said during the commitment ceremony for the Laguna Lake Floating Solar Power Project.
Specialized Offshore Engineering
Deploying photovoltaic (PV) modules over water offers distinct advantages by avoiding land acquisition bottlenecks and utilizing natural water cooling to improve solar cell efficiency. However, constructing a gigawatt-scale array on Laguna de Bay poses severe mechanical and civil engineering challenges.
To address these demands, SunAsia is collaborating with floating solar specialists across the region, drawing on deep engineering experience to design resilient systems capable of handling variable water conditions, wave action, high humidity, wind shear, and long-term metal corrosion.
Local Supply Chains & Economic Impact
The project forms part of SunAsia’s broader Laguna Lake master plan, which holds 10 Solar Energy Operating Contracts (SEOC) from the DOE covering 1,318 megawatts (MW) over 1,000 hectares of lake surface. Macquarie Capital’s portfolio company, Blueleaf Energy Philippines, has also provided development and funding support for the framework since 2021.
Beyond generating clean power, the scale of the development is expected to catalyze local manufacturing, particularly the fabrication of high-density floating platforms. The project will create employment and technical opportunities across civil engineering, procurement, electrical and mechanical assembly, logistics, and long-term environmental management throughout the Laguna Lake basin.
The initiative directly aligns with the Philippine government’s national target to expand the share of renewable energy in the country’s power generation mix to 35% by 2030 and 50% by 2040.
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