Bronzeoak to start solar projects worth $232.8M
Yet another solar power project is in the works in Negros Occidental through a new venture of Bronzeoak Philippines Inc., which is expanding its solar power portfolio, director Don Mario Y. Dia told the Inquirer.
Bronzeoak’s three projects will cost a combined $232.8 million.
San Carlos Sun Power Inc., a new venture of Bronzeoak with a yet-to-be-disclosed partner, is intended to have a total capacity of 55 megawatts (MW) for an investment of about $115.5 million.
“The NTP (notice to proceed) will probably be in April or May. The project will be finished within the year,” Dia said.
Also set for completion this year is the expansion of San Carlos Solar Energy Inc. (Sacasol), a joint venture of Bronzeoak and European asset management firm Thomas Lloyd Group.
The $48.3-million project entails expanding the solar capacity of the Sacasol 1 facility to 23 MW, from the current 22 MW.
Sacasol 1 was built at a cost of about $46 million. The expansion should be finished this summer, said Dia.
Also in Bronzeoak’s pipeline in San Carlos are Sacasol 2, which will have a capacity of 18 MW, and Sacasol 3, which is set to be developed with a capacity of 25 MW at a later time.
In La Carlota, Bronzeoak is building a 33-MW solar power project for about $69 million. The project is also expected to be finished within the year.
The Visayas region is seen to have great economic potential, but it still needs support infrastructure such as power generating facilities.
Bronzeoak decided to seize this attractive opportunity to develop solar power on Negros island, company president Jose Maria P. Zabaleta Jr. said.
Bronzeoak, established in 2003, is a leader in the development and implementation of renewable energy projects in the Philippines, working with a broad range of international partners and investors for its ventures.
It has gathered vast experience in clean energy production. In 2006, it completed the first sugarcane, ethanol and power cogeneration plant in Asia
