A MEMORANDUM of agreement (MOA) was signed between Bacolod-based company Amatera Renewable Energy Corp. and its Korean partner, TPC Construction Corp., for the development of a 50-megawatt solar power plant in Barangay Vista Alegre, Bacolod City.
The MOA signing was led by Amatera chief finance officer Ramon Luis Lacson and TPC president Charles Ji. It was witnessed by the village chief of Barangay Vista Alegre, Jose Maria Leandro Norberto De Leon, and TPC members at the L’Fisher Hotel in Bacolod City Friday evening, September 6.
Also present were Vice Mayor El Cid Familiaran and staff from Amatera and TPC.
Lacson said the MOA signing is an agreement between the Korean group and their family. The Korean firm will be given a year of collectively looking for investors and probably the start of construction.
“The Korean firm should start the project within one year. Because after a year, all of what we have done here will expire. So they will have to push that within a year, they should start the project,” he said.
He added that by August 2020, they already started the project.
Lacson noted that the solar power plant project has an estimated budget of P2 billion.
“From the bottom of our hearts Charles, thank you for trusting our family and we also extend our trust in you. Hopefully, this renewable energy project will not only deliver power to our city, but probably will deliver clean and more progressive type of energy which will later be appreciated by our children and our children’s children,” Lacson said.
The Amatera Renewable Energy Corp. is leasing the 74-hectare Lacson family land for 25 years to the Korean firm for the first-ever large-scale solar power project in Bacolod.
Ji also expressed his gratitude to the Lacson Family for allowing him to do his first business in the Philippines.
Ji said as a Korean, it was very difficult to do business in the Philippines.
“But I feel infinite pride being able to do MOA of solar energy business. Based on Korea’s superior technology, we will prepare thoroughly to ensure that construction and operation will not be disrupted,” he said.
Familiaran said this is another milestone for the City of Bacolod because this is the first solar power energy project to be constructed in the city.
He said the 50-megawatt solar power is equivalent to 50,000 households’ power consumers, and the requirement of the city is only between 60 to 70 megawatts.
“They saw the potential of Bacolod because of the economic boom of our city so there’s a need of additional power. This is an assurance for all of us and our would be investors that we can supply power 24/7. And in the near future, this will lower down the cost of power,” he added.
The power plant project has a lease contract renewable for 25 years.
The firms target to start the operation by 2020, in time for the completion of the Cebu-Negros-Panay 230-kilovolt Backbone Project of the National Grid Corp. of the Philippines.
For his part, barangay captain Jose Maria Leandro Norberto De Leon said he is also thankful that the solar power plant will be constructed in his barangay.
He said the project will be constructed in Purok Katilingban near the barangay hall of Barangay Vista Alegre.