A KOREAN company plans to build a 100-megawatt solar farm in Sogod, northern Cebu.
This multi-billion-peso project aligns with the Philippine government’s efforts to address energy shortages and meet goals under the National Renewable Energy Program 2020–2040.
SelTech Co. Ltd., based in Cheongju City, South Korea, operates several solar power plants domestically.
Since 2022, it has expanded internationally, initiating solar projects in Sri Lanka, the United Arab Emirates, Tanzania, and Kenya.
Represented by SelTech managing director Bong Ho Cho, the company signed a memorandum of understanding with Sogod Mayor Lissa Marie Durano-Streegan on Nov. 29, 2024.
The agreement outlines the identification of a project site, completion of institutional requirements, and logistical support for the project.
“In order to implement the above-mentioned project, the parties shall create a technical working group to plan and establish relevant training, testing and evaluating cooperative activities, and conduct other relevant activities jointly decided,” read a portion of the MOU.
SelTech allocated US$100 million (approximately P5.7 billion) for a 100-megawatt agrivoltaic solar farm in the second-class municipality located 77 kilometers north of Cebu City. This innovation integrates solar power generation with agricultural activities, supporting regional sustainability goals.
In partnership with Filipino-Korean company C Pass Topwallet, the project will allow consumers to pay electricity bills electronically using secure blockchain technology. C Pass, through its partnership with Topjuan Tech, holds licenses as an electronic money issuer and virtual asset service provider from the Bangko Sentral ng Pilipinas, enabling nationwide mobile payment solutions. The company also offers e-wallet services in Europe.