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Korea Republic of : MOU inked to set up a PV SOLAR POWER PLANT
Publish Date : 11-Dec-2012
The provincial government of Cavite and a South Korean business corporation inked a Memorandum of Understanding (MOU) to establish a $180-million photovoltaic (PV) solar power plant in the municipality of Tanza. The solar energy plant will be concluded in the coastal town in 2014. It is the first of its kind in Cavite, and is one of the country’s major photovoltaic projects.
Cavite Governor Jonvic Remulla and LG CNS Co., Ltd. Vice President Ji Seob Kim led the MOU signing at a golf and country club.
The MOU was inked after concerned sectors such as Sangguniang Panglalawigan, gave approval to the operation of the solar energy plant in the province by highlighting its benefits for health, environment protection, and employment generation. The photovoltaic project will strengthen homes, offices, and factories including the use of sun-powered panels or equipment.
The power plant will put off air and noise pollution, health hazards, and generate savings on electrical consumption. The proposed photovoltaic project will be situated in Tanza. It will give electricity to the consumers in the area.
The South Korean executives said that the construction work on the proposed plant, which is estimated to cost between $150 and 180 million. The construction will begin within 12 months.
The LG CNS Co., Ltd. will fund the plant’s construction cost and operation. It will give the necessary training for technical workers and laborers including others.
According to the MoU, the provincial government of Cavite will provide the firm with the information, assistance, and cooperation required for the development and execution of the project.
