SunScout and Alta Renewables Sign MOU to Build, Own, and Operate 87.5 MW Solar-Plus-Storage Portfolio in the Philippines
Rhea-AI Summary
SunScout (NYSE American/NYSE Texas: SNSC) signed a memorandum of understanding with Alta Renewables to build, own and operate four shovel‑ready solar‑plus‑storage projects totaling 87.5 MWp in the Philippines under 20‑year, fixed‑price power supply agreements. SunScout expects to invest about USD 1,000,000 per MWp, or roughly USD 87.5 million, funding each plant’s construction and retaining long‑term ownership.
The projects with AKELCO, FLECO, ILECO 3 and ZAMECO II feature fixed tariffs of up to Php 6.00/kWh, integrated battery storage, and a target project‑level IRR of at least 10%. SunScout plans project‑level financing at about 70% debt post‑commissioning to recycle capital. Alta may co‑invest up to 33% equity per project and will receive development fees of USD 100,000 per MWp. The parties also reference a further 230+ MWp BOO pipeline and aim to sign definitive agreements around August 24, 2026, subject to due diligence, approvals, and final documentation.
Positive
- 87.5 MWp solar-plus-storage BOO portfolio under MOU in the Philippines
- Target project-level IRR of at least 10% supported by 20-year fixed-price PPAs
- Estimated initial portfolio capex of about USD 87.5 million at USD 1M/MWp
- Post-COD project financing planned at approximately 70% debt to recycle equity
- Additional Philippine BOO pipeline exceeding 230 MWp identified with Alta Renewables
- Alta option to co-invest up to 33% equity per project aligns partner incentives
Negative
- Initial 87.5 MWp portfolio implies about USD 87.5 million capital outlay by SunScout
- Transactions remain subject to due diligence, approvals, and definitive agreements with no assurance of completion
- Development fees to Alta Renewables of USD 100,000 per MWp represent a significant project cost component
Key Figures
Key Terms
memorandum of understanding regulatory
internal rate of return financial
build-own-operate financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Twenty-year, fixed-price power supply agreements underpin double-digit target returns for SunScout, with a pipeline of more than 230 additional megawatts under discussion
Palmerston North, New Zealand, Aug. 14, 2026 (GLOBE NEWSWIRE) -- SunScout Holding Limited (NYSE American/NYSE Texas: SNSC) (“SunScout” or the “Company”), a clean-technology company developing and commercializing autonomous, solar-powered robotic mowers and related solar energy solutions, today announced a memorandum of understanding (“MOU”) with Alta Renewables, Inc. (“Alta Renewables”) to build, own, and operate a portfolio of four shovel-ready solar-plus-storage projects totaling 87.5 megawatts-peak (“MWp”) across the Philippines. The MOU anticipates that SunScout will fund construction of each plant, take on long-term ownership, and operate them across 20-year, fixed-price power supply agreements — while Alta Renewables remains involved as co-development and operations partner. The MOU is SunScout's first project cooperation since completing its listing on the NYSE American and NYSE Texas exchanges on August 13, 2026.
Highlights of the project include:
- 20-year fixed-price power supply agreements supporting contracted revenue per plant.
- ≥
10% target project-level internal rate of return (“IRR”). - 112.5 MWp of projected owned and operated capacity upon completion of the ILECO 3 expansion.
- 230+ MWp of further Build-Own-Operate (“BOO”) pipeline under discussion.
SunScout expects to fund the full build-out on a project-by-project basis — an estimated USD 1,000,000 per MWp, or roughly USD 87.5 million of invested capital across the initial portfolio — covering engineering, construction, and battery storage integration with SunScout retaining full ownership of every plant it builds. Once a plant reaches commercial operation, SunScout intends to implement project-level financing of approximately
SunScout expects each plant to pair solar generation with an Integrated Renewable Energy Storage System (“IRESS”) and a long-term power supply agreement with a local electric cooperative. The final terms are expected to be:
- AKELCO — 25.0 MWp with 10.0 MWac / 27.5 MWh of storage; locked in under a 20-year power supply agreement with Aklan Electric Cooperative at a fixed Php 6.00/kWh; land rights secured, ready-to-build status targeted for September 2026.
- FLECO — 12.5 MWp with 10.0 MWac of storage; 20-year power supply agreement with First Laguna Electric Cooperative at a fixed Php 4.85/kWh; ready-to-build status targeted for December 2026.
- ILECO 3 — 25.0 MWp with 20.0 MWac / 70 MWh of storage (with an additional approximately 25 MWp under development that would expand SunScout's owned capacity here to roughly 50 MWp); indicative 20-year offtake terms of Php 5.75+/kWh with a consortium of electric cooperatives; ready-to-build status targeted for December 2026.
- ZAMECO II — 25.0 MWp with 10.0 MWac / 27.5 MWh of storage; 20-year power supply agreement with Zambales II Electric Cooperative at a fixed Php 5.79/kWh; ready-to-build status targeted for December 2026.
Alta Renewables, which brought each project to “Ready-to-Build” status — securing land rights, cooperative offtake terms, and permitting progress — will remain closely involved as SunScout's Philippine co-development and O&M partner, continuing to manage local permitting, cooperative relationships, and day-to-day plant operations under SunScout's oversight. The MOU anticipates that Alta Renewables will also have the option to co-invest alongside SunScout for up to
“This is a BOO model at its best,” said Mr. Edwin Cywinski, Chairman and Chief Executive Officer of SunScout. “Alta Renewables gets these projects to shovel-ready, and we bring the capital to build them — then we own and operate them for the next 20 years under contracted, fixed-price agreements. That's exactly the kind of durable, growing earnings stream we want on our balance sheet, and with more than 230 additional megawatts already in Alta's pipeline, this will be a partnership we expect to keep growing for years to come.”
“We plan for this to be more than a single transaction,” said Mr. John Michael Bernil of Alta Renewables. “Per the MOU SunScout would fund construction, take on long-term ownership, and keep us involved as an operating partner and equity co-investor. That would give our cooperative partners confidence these plants will be built and run well for the next two decades and gives us a platform to keep developing new projects together.”
Beyond the initial 87.5 MWp, SunScout and Alta Renewables intend to negotiate an overarching framework agreement naming Alta Renewables as SunScout's preferred BOO partner for future Philippine solar and storage projects. Alta Renewables' current pipeline includes the additional approximately 25 MWp under development at ILECO 3, a 25 MWp project with CAPELCO, and a 99 MWp project with CAGELCO II — together representing more than 230 MWp of further Build-Own-Operate opportunity for SunScout in the Philippines alone, on top of the initial portfolio.
The parties are targeting execution of definitive project agreements on or about August 24, 2026, followed by formal adoption by SunScout's board of directors, mobilization of project financing, and financial close on the first project in the fourth quarter of 2026.
The cooperation remains subject to satisfactory due diligence, internal and board approvals, and negotiation and execution of definitive agreements. There can be no assurance that the parties will complete the transactions described, on these terms or at all.
About SunScout Holding Limited
SunScout Holding Limited is a clean-technology company engaged in the design, development, manufacturing, and commercialization of autonomous, solar-powered robotic mowers and related solar energy solutions. Powered entirely by solar energy through the Company’s proprietary deployable solar array (“DSA”) technology, SunScout's robotic mowers operate independently of the electrical grid and feature autonomous navigation and AI-powered obstacle avoidance. SunScout also provides solar power development solutions, as well as engineering products and services, including precision fabrication, mechanical engineering, and project management. SunScout’s mission is to eliminate reliance on fossil fuels in outdoor maintenance and mobile machinery, beginning with lawn care and expanding into adjacent applications. For more information, please visit the Company’s website: https://www.snsc.ai.
About Alta Renewables, Inc.
Alta Renewables, Inc. is a Philippine developer of solar and integrated battery storage projects, with a portfolio spanning Aklan, Laguna, Iloilo, and Zambales provinces developed in partnership with local electric cooperatives.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can find many (but not all) of these statements by the use of words such as “believe,” “plan,” “expect,” “intend,” “should,” “seek,” “estimate,” “will,” “aim” and “anticipate,” or other similar expressions in this announcement. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the registration statement and other filings with the U.S. Securities and Exchange Commission (the "SEC"). Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov.
For more information, please contact:
SunScout Holding Limited
Investor Relations Department
Email: investors@snsc.ai
Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com
