The Asian Development Bank has alloted $100 million for a solar rooftop project in the Philippines with total capacity of 70-80 megawatts, an official said Tuesday.
“Solar prices have gone down in the last few years; maybe we can do rooftop solar project with some funding,” ADB senior energy specialist Sohail Hasnie told reporters at the sidelines of the ADB solar rooftop power plant.
One megawatt, which costs around $2.5 million, is enough to serve 25 families.
Hasnie said the solar rooftop project may be carried out in three to four years.
Government agencies are welcome to make use of financing from the ADB, officials said.
Seethapathy Chander, ADB director general for Regional and Sustainable Development Department, for his part, said the Philippines has a solar rooftop potential of 10 to 15 MW this year and 50 MW to 100 MW next year.
“There’s a potential (of 50 MW to 100 MW) because the electricity cost is high in the Philippines. I expect that once prices go down, and the manufacturer are able offer lower prices, people should want to buy that,” Chander said.
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