Publish Date : 21-Aug-2015
Aboitiz Power Corp. (AboitizPower) and SunEdison are all set to develop their first joint venture solar energy project at San Carlos City in Negros Occidental.
The partners have also granted the engineering, procurement and construction (EPC) contract for their JV project worth P3.5 billion to a Chinese firm.
NARI Group Corporation of China, a major provider of electric power equipment, has won the EPC contract for the Negros solar power project, which will have a production capacity of 59MW.
AboitizPower has revealed that the Negros solar energy project will start commercial operation in Q1, 2016, and once commissioned, it will be one of the biggest solar power projects in the Philippines.
The President and COO of AboitizPower Antonio Moraza has stated that the solar plant venture is in response to the governments appeal for the optimization of the renewable energy (RE) potential of the country.
Moraza stated, AboitizPower is one of the biggest renewable energy producers in the country and we will continue to expand this capacity. This project is a testament to that commitment.
In November 2014, AboitizPower and SunEdison had agreed a joint framework agreement for exploring, developing, constructing, and operating utility-scale solar projects having power production capacities of as much as 300MW in the Philippines over the next 3-year period.
Moraza further stated, AboitizPower will continue to pursue the right mix of energy sources to ensure reliability and a reasonable cost of power to the end-consumers.
AboitizPower along with its partner firms now generate overall 3,044MW of electricity, and its Cleanergy portfolio, comprising hydro and geothermal power facilities, account for 40% of this amount.
Aboitiz Group has set up its holding company AboitizPower for carrying out investments into power generation, distribution, and retail electricity services sector.
The Aboitiz Group arm, one of the biggest power producers in the Philippines, now owns a portfolio of nationwide assets. The company is a leading producer of Cleanergy, its green and renewable power brand, with quite a few hydropower and geothermal assets.
AboitizPowers generation portfolio also features several fossil-fuel based power facilities.
The company is also the owner of several distribution utilities, which are operational in high-growth areas in Luzon, Visayas and Mindanao, comprising the 2nd and 3rd biggest private utilities in the Philippines.
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