AboitizPower to build 59-MW solar power project

ABOITIZ Power Corp. (AboitizPower) and SunEdison have awarded the engineering, procurement and construction (EPC) contract for their first joint solar power project to be located near San Carlos City, Negros Occidental.

The EPC contractor, Nari Group Corp., will undertake the construction of the P3.5-billion, 59-MW Negros Solar Energy Project. Nari has successfully completed more than 30 projects in the Philippines.

The Negros Solar Energy Project is set for commercial operations in the first quarter of 2016 and will be one of the largest solar power projects in the Philippines to date.

u201cThis project is in support of the call by the government to maximize the renewable energy potential of the country. AboitizPower is one of the biggest renewable energy producers in the country and we will continue to expand this capacity. This project is a testament to that commitment,” Antonio R. Moraza, AboitizPower president and COO said.

u201cAboitizPower will continue to pursue the right mix of energy sources to ensure reliability and a reasonable cost of power to the end consumers.” Moraza added.

In November 2014, AboitizPower and SunEdison announced a joint framework agreement to explore, develop, construct, and operate up to 300 MW of utility-scale solar in the Philippines over the next three years.

To date, AboitizPower and its partners produce a total of 3,044 MW of power, 40 percent of which are coming from its Cleanergy portfolio made up of hydro and geothermal power plants.

SunEdison is the world’s largest renewable energy development company. It develops, finances, installs, owns and operates renewable power plants, delivering predictably priced electricityy to its residential, commercial, government and utility customers.

In a disclosure sent to the Philippine Stock Exchange, AboitizPower said that its wholly-owned subsidiary Aboitiz Renewables Inc. signed shareholders’ agreements with SunEdison to formalize the equity sharing, governance structure and other terms and conditions of the partnership in Maaraw Holdings San Carlos, Inc. The joint venture company is 60 percent owned by ARI. (PR)


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