Business World Online
Posted on September 19, 2011 05:28:13 PM
RENEWABLE ENERGY firm SunConnex Development Corp. plans to invest $280 million to set up a 70- megawatt (MW) portfolio of solar facilities in the country once feed-in tariffs are determined, a ranking official yesterday said.
“We have applied with the Department of Energy a total of 70 MW for seven to eight facilities in different locations. [Each] project will be an average of 5-MW,” SunConnex President JJ Samuel A. Soriano told reporters in a chance interview.
The projects will be located in Laguna, Bataan, Pampanga, Cavite and Zambales, he said, at $3 million to $4 million per MW.
The company, however, is waiting for the government to finalize feed-in tariffs, the universal charge to be collected from power consumers to ensure renewable energy projects earn a return.
The Energy Regulatory Commission is holding public hearings on proposals from the National Renewable Energy Board to peg the tariff at P17.95/kilowatt-hour (KWh) for solar power.
Other proposed feed-in tariff rates are P7/kWh for biomass, P6.15/kWh for run-of-river hydroelectricity, P10.37/kWh for wind power, and P17.65/kWh for ocean technology.
“We still think in the long term, solar [power] will be needed by the country. It’s just a matter of time these projects will be implemented,” said Mr. Soriano.
SunConnex is a supplier of solar electric products. It has offices in Italy, France, Spain and the United Kingdom. -- E.N.J. David
No comments:
Post a Comment