Belgium Firm, Enfinity Global To Invest $180M in PH 4 Solar Projects.
Author: Darvin Tocmo Date Posted:7 May 2015
The local subsidiary of Belgium's Enfinity Group will invest P8 billion ($180M) to develop solar power projects with combined capacity of over 100 megawatts. Enfinity Global Founder and Chief Executive Gino Van Neer stated that the company's first four solar projects will be completed before the end of 2015 or by March 2016. These projects are – a 20 MW solar farm in Clark, Pampanga; a 40 MW plant in Concepcion, Tarlac; a 40 MW plant in Digos, Davao del Sur and a 3 MW plant in Cavite. "The Philippines is considered as one of our core markets for the further development of our solar business in the world," said Neer. According to Dennis Ibarra, Enfinity Philippines President, all projects have secured renewable service contracts from the Department of Energy (DOE). The solar projects are expected to generate about 150 GWh of green electricity annually which is enough to power 100,00 homes in the country. The Energy Regulatory Commission (ERC) has approved a solar FIT of P8.69 per kilowatt for an additional capacity of 450 MW. Neer considers the newly-approved FIT as major stimulus for fresh wave of solar power developments - especially those that are designed to be fed on-grid. "The Philippines will contribute a little less than 1% to the global solar market," he said. He also stated market reports showing that over 1 GW of solar energy will be put on line in the country every year in the next several years. Find more information at: http://www.manilatimes.net/enfinity-global-builds-4-solar-plants-in-ph/181383/