Business World Online
Posted on November 20, 2014 09:44:00 PM
MIRAE Asia Energy Corp. has sought regulatory approval to invest P63.72 million to link its 20-megawatt (MW) solar plant in Ilocos Norte to the Luzon grid.
In a notice released recently, the Energy Regulatory Commission said Mirae Energy asked for its authorization to develop, own and operate a transmission line for the new power project that will start operations next year.
“The construction of the transmission line is a pre-requisite for the testing and commission, and ultimately, its commercial operation,” the notice read.
The 20-MW facility in the municipality of Currimao is slated for a Feb. 28 completion. Hence, the developer wants to complete the transmission line by January 2015.
“Given the immediate need for additional capacity by 2015, the completion of the project... is critical to ensure that additional capacity will be available to Luzon grid in a timely manner,” the notice added.
The regulatory approval will also pave the way for the project’s application under the feed-in tariff, which means the generated by the plant will be sold at a rate of P9.68 per kilowatt-hour for a period of 20 years. -- Claire-Ann Marie C. Feliciano source
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