Korean firm told to start solar project

by Alena Mae S. Flores, February 2, 2015
from Manila Standard Today

The Energy Department has issued a show cause order to Mirae Asia Energy Corp. of South Korea for the delay in the implementation of the 20-megawatt solar power project in Currimao, Ilocos Norte.

“If Currimao Solar cannot fulfill its work and financial plan, it will be cancelled and accorded with penalties. I think we already issued a show cause letter [to them],” Energy Department director Mario Marasigan said.

The Energy Department issued a certificate of commerciality to Mirae Asia as early as July 2013, allowing it to proceed with the construction of the solar plant in Currimao.

Mirae Asia executives earlier said the project was estimated to cost P2.4 billion, with construction expected to start in the fourth quarter of 2013.

The project was supposed to be completed in 2014, as construction was estimated to take only nine to 12 months.

The department granted Mirae Asia a service contract for the project in 2012.  The solar project, covering 60 hectares, is located in Barangay Paguludan, Currimao.

Mirae Asia’s existing solar project in Korea is smaller than the Currimao project.

The Currimao solar project, once operational, could avail of the feed-in tariff rate of P9.68 per kilowatt-hour.

Mirae Asia said, based on the company’s presentation, it had already concluded topographic and geotechnical study of the plant site in Currimao.

The company secured the endorsement of host local government units through a provincial board resolution. It also received the environmental compliance certificate for the project and was presently in discussion with the National Grid Corporation of the Philippines for the transmission service agreement and connection agreement.

The company expects the solar project to become one of Ilocos Norte’s tourism showcases.

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