By Alena Mae S. Flores Posted on Nov. 29, 2012 at 12:01am
Renewable energy developer SunAsia Energy Inc. said it will build solar power projects with a combined capacity of 20 to 22 megawatts in four off-grid areas in the country.
SunAsia chairman Noel Carino told reporters the company aimed to build small-sized solar power projects ranging from 2.5 MW to 5 MW.
“We’re targeting Palawan [Puerto Princesa and El Nido], Aklan, Mindoro,” Carino said, adding that SunAsia would likely team up with state-owned National Power Corp. and electric cooperatives for the solar projects.
He said SunAsia was prepared to invest P200 million to P400 million for a 30-percent equity in the project cost. It plans to borrow 70 percent of the cost.
“We have some [foreign] partners. We’re still working on them,” Carino said, adding a possible financier was Export-Import Bank of the USA.
He said the company expected its solar projects to be on stream starting next year because solar projects were easy to install.
“Solar is easy to install. It’s more on the financing requirements but the technology itself is easy to install,” he said.
SunAsia deploys solar starter kits for homes and designs and build grid-integrated commercial-scale rooftop solutions for businesses.
It also customizes large installation for grid-connected industrial rooftop and installs megawatt-size solar power plants in partnership with utility firms.
SunAsia president Tetchie Capellan said the company wanted to concentrate on off-grid areas.
“Our vision is to help the off-grid. Everybody wants to concentrate on the on-grid. We want to help,” Capellan said. source
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