Solar expands portfolio
SOLAR Philippines Inc. is signing up another major partner to build up its portfolio of projects in the country.
Company president Leandro Leviste told reporters the company was set to sign an agreement with a listed property developer for a 200-megawatt (MW) power project to be built by early 2016.
“It will be a 50-50 joint venture, with them (the partner) in charge of civil works,” Leviste said.
Solar Philippines has a partnership with retail giant SM Prime Holdings Inc. in building rooftop-mounted solar power facilities to help the retail and property group harness clean, renewable and sustainable energy for its operations.
The Leviste-owned company also broke ground for a 50-megawatt project in Calatagan, Batangas.
Leviste said that would be a turning point for renewable energy in Batangas.
The ground-mounted system will comprise over 150,000 solar panels, covering over 75 hectares of land owned by the company.
Once completed this year, it will generate enough energy to meet almost the entire demand of Batangas.
Over three decades of operation, it is expected to offset over 1 million tons of CO2, equivalent to planting over 5 million trees.
Solar Philippines will be launching many more solar farms, Leviste said.
“We are in discussions with landowners across Luzon, Visayas and Mindanao,” said Leviste.
“Taking the same approach as for our rooftop projects, we’ve integrated development, financing, and construction all-in-one, allowing us to move faster in meeting the Department of Energy’s solar targets for 2015,” he added.
