By MST Business | Nov. 12, 2014 at 11:40pm
Aboitiz Power Corp. has teamed up with SunEdison Inc. of the US to construct solar power projects in the Philippines with a combined capacity of 300 megawatts over the next three years.
SunEdison, a leading solar technology manufacturer and provider of solar energy services and Aboitiz Renewables Inc., a wholly-owned unit of Aboitiz Power, signed a joint framework agreement to construct up to 300 MW of utility scale solar photovoltaic power generation projects in the country, the two companies said in a joint statement.
“We are constantly exploring new energy sources, and this exclusive agreement with SunEdison is an important milestone and a welcome addition to our current portfolio of renewable energy,” Aboitiz Power chief executive Erramon Aboitiz said.
“Our deep knowledge of local markets, together with SunEdison’s proven track record and cutting-edge technology, will enable us to rapidly achieve our goal,” Aboitiz said.
The two companies said they aimed to develop the first in a series of utility scale solar power projects in 2015.
The agreement follows similar arrangements by SunEdison in India and China through continued leverage to deploy cost-effective solar energy solutions to meet the growing power needs of developing and emerging power markets.
“It’s an ideal partnership. Aboitiz Power has extensive utility-scale expertise in the Philippine power market and SunEdison has leading world-class solar technology and deployment capabilities. Together, we are ideally positioned to swiftly bring cost-effective solar energy to the people of the Philippines,” SunEdison chief executive Ahmad said.
SunEdison manufactures solar technology and develops, finances, installs and operates distributed solar power plants, delivering predictably priced electricity to consumers.
Aboitiz Power has a current generating portfolio of 2,210 MW which includes geothermal, hydro, coal and oil plants. It is committed to build an additional 2,000 MW in the next five years.
The company is also looking at opportunities for international expansion in Southeast Asia, particularly in renewable energy.
The Philippines is rushing the construction of new power plants and told companies to prepare to rely on their own generators in the summer of 2015 when supply is likely to be limited and higher temperatures boost demand. Philippine power consumption jumped 50 percent in the 10 years to 2012, compared with a 16 percent increase in generating capacity, according to government data. source
No comments:
Post a Comment