by Myrna Velasco, 21 August 2015
from Manila Bulletin
Chinese firm Nari Group Corporation has been tapped for the engineering, procurement, and construction (EPC) contract of the 59-megawatt peak solar farm project of AboitizPower Corporation and American firm partner SunEdison.
The joint solar venture undertaking will command P3.5 billion worth of investments, AboitizPower has noted in its statement to the media.
The facility will be sited in San Carlos City in Negros Occidental, proximate to another solar development by other project sponsors.
The company said this will be the first batch of the planned solar projects in their joint venture arrangement with the American firm. The partner-firms previously indicated developments that would top 300MW.
The targeted commercial commissioning of the solar plant is first quarter of 2016 – a timeframe of getting on stream that is aligned with the cut-off period set by the Department of Energy (DOE) for the next batch of feed-in-tariff (FIT) availments for solar projects.
“The Negros solar energy project is set for commercial operations in the first quarter of 2016 and will be one of the largest solar power projects in the Philippines to-date,” Aboitiz Power said.
According to Aboitiz Power president and chief operating officer Antonio Moraza, their company “will continue to expand its capacity” in the renewable energy sphere of investments.
The Aboitiz firm has been trumpeting ‘right mix’ in its portfolio of power plant developments – hence, its facilities range from RE to fossil fuel-underpinned technologies as well as other diversified sources.
In the core of such development, Moraza noted that their overall goal would be to “ensure reliability and a reasonable cost of power to the end-consumers.”
Solar is held as a ‘steep race’ among developers, especially in meeting the commercial operations deadline set by the government for them to secure their share of incentives under the FIT system.