THE YEC International Engineering Services will push through with its 520-megawatt solar (MW) power plant and the Capitol is set to sign a memorandum of understanding (MOU) with the firm this month, said Cebu Investment and Promotions Office (Cipo) head Benjamin Yap yesterday.
“We are just waiting for their call for the MOU signing,” said Yap.
YEC announced in the first week of October last year its intention to put up a 520-megawatt solar power plant. The company submitted their proposal this month, said Yap.
The company said it will fully fund and handle the engineering, procurement and construction of the solar power project.
With a capacity to produce 1 MW power per one hectare of solar panels, Yap explained that the total 520 has. may not be in one area, but separate with at least 10 contiguous hectares per town.
Areas
In preparation, Capitol is now scouting for areas for rent, with a total area of 520 hectares so it will be ready once the MOU is signed. A comprehensive study will follow the MOU signing, said Yap.
YEC is the company to implement the 310-km. trans-axial highway passing through mountains from Daanbantayan town in the north to Santander town in the south. The company is yet to draft an MOU to identify duties and responsibilities of parties.
The solar power field is YEC’s second project with Capitol.
“In principle, it is already okay, and we are already setting the ground work,” said Yap.
“This means a two- month site or topography study and readying documentary requirements with DOE and DENR,” said Yap.
Partner change
In yesterday’s CIPO board meeting, Yap told the board members that YEC International Engineering changed their UK-based international firm partner to an Australian firm, and now the company is bent on pushing through with the project.
PB Member Grecilda Sanchez, in an earlier interview, said the trans-axial highway is YEC’s long-term project, with its component projects such as the development of commercial areas, export processing zones, wind farm and hydropower plant. The solar power is its short-term project.
Its total project cost is initially estimated at P80 billion, which will cover urban and master planning, architectural design and subsequent procurement of road-right-way, construction, and operations in partnership with Capitol, said Sanchez.