A set of power purchase agreements (PPAs) announced in Southeast Asia marks the region's further move into solar power generation.

Kuala Lumpur-based major independent power producer (IPP) Malakoff has signed a memorandum of understanding with MMC Group to provide MMC with 500 MW of solar power generation capacity. Malakoff will be responsible for project development, installation, operations and maintenance, while MMC Ports will be the end user. The signing of this agreement is in line with Malaysia’s growing focus on renewable energy technologies, as evidenced by initiatives such as its large-scale solar (LSS) procurement programme.

In the Philippines, San Juan City-based renewable energy company Citicore signed a one-year power purchase agreement with Clark Electric Distribution Company (CEDC). Under the power purchase agreement, Citicore's two power plants in Tarlac, central Luzon, will provide the utility with 7.5 MW of electricity, with a combined generating capacity of 15 MW.

The agreement is expected to be extended to 10 years after Citicore's 60 MW Bato solar power plant in Zambales province comes online. Citicore plans to aggressively expand its solar business, with plans to develop four more projects in Luzon.

To support the company's expansion, Citicore secured a $100 million loan from Singapore-based debt financing firm Pentagreen Capital, part of which will be used to build solar power plants in the country's northern province of Batangas.

According to a 2022 report from the International Renewable Energy Agency (IRENA), the Philippines aims to achieve 15 GW of clean energy installed capacity by 2030, with a focus on mini-grids and independent clean power systems due to the country's archipelagic nature.