Mirae inaugurates new solar plant in Ilocos Norte

by Lenie Lectura – February 9, 2016

from Business Mirror

MIRAE Asia Energy Corp. (Mirae) inaugurated on Tuesday its 20-megawatt (MW) solar-power facility in Currimao, Ilocos Norte, boosting power supply in Luzon.

The solar project, which costs $40 million, will make a significant contribution to meeting the country’s current energy demand by using solar as a clean and cost-competitive alternative-energy source to coal.

The 20-MW plant is designed to produce 33,000-MW hours of solar power per year, which will power an estimated 29,328 households annually. It will also save the Philippines an estimated 31.2 million liters of water and 16,566 tons of greenhouse-gas emissions, the equivalent of taking approximately 3,500 cars off the road per annum.

The project has, likewise, driven economic growth in Ilocos Norte, creating substantial local employment opportunities.

“The project is thankful to have the support of the provincial government of Ilocos Norte, particularly Gov. Imee Marcos, and the municipality of Currimao. We are happy to be able to contribute clean and sustainable energy to this community and create additional employment opportunities for its constituents,” said Mirae Chairman Anthony J. Violago. The solar project was developed through a partnership between San Lorenzo Ruiz Builders and Developers Group Inc. (SLRB) and Soleq, one of Southeast Asia’s largest independent solar-utility generation platforms.

SLRB pioneered the construction of the $680-million Casecnan hydropower project that allowed farmers in Nueva Ecija to plant throughout the year, even during the El Niño.

It also irrigates 137,000 new hectares of rice land and produces 150 MW of hydropower.

Soleq is one of Southeast Asia’s largest independent solar utility-generation companies. It has successfully constructed and commissioned 12 projects across Thailand and the Philippines, and has a significant development portfolio.

Soleq is an Equis-invested company. Equis is Asia’s largest independent emergy and infrastructure fund manager based in Singapore.