MANILA, Philippines—Filipino-Japanese venture Eco-Merge Philippines is putting up the country’s biggest solar power facilities over the next three years, with total investments possibly reaching P7.4 billion.
Eco-Merge president Edgar Morada said the company was looking at putting up solar facilities in four prospective areas—Camarines Sur, Negros Occidental, Agusan del Norte and Zamboanga. The projects are expected to generate a total of 41 MW.
While Morada did not disclose actual investment figures for the whole solar power portfolio, he noted that a company would need to invest $3 million to $4 million to produce a megawatt from solar resources. This means that for a 41-MW portfolio, the company has to shell out $164 million or about P7.38 billion.
“Our initial foray will be in the solar power area, but eventually, the goal really is in renewable energy. We will eventually diversify our RE portfolio. But for now, the focus is on solar energy,” Morada said in a briefing on Tuesday.
According to Morada, the company was initially looking at Camarines Sur because of the fact that the “governor of Camsur is one of the best governors in terms of undertaking renewable energy projects [and] is also eyeing Camsur as the first ever green province in the country.”
The planned 11-MW solar power project in Camsur will involve the provincial government, with the Camsur Watersports Complex (CWC) buying the electricity to be produced from the facility.
Morada said that the company has tapped Snowy Mountain Engineering Corp. (SMEC) to conduct the feasibility study for the 11-MW Camsur solar project as well as to provide the engineering consultancy services.
The Australia-based SMEC has been in the country for quite some time, servicing power giants such as First Gen Corp. and Aboitiz Power Corp. It is one of the leading engineering and development consultant firms in the world, particularly in the field of new and renewable energy.
Eco-Merge targets to hold its groundbreaking for the Camsur solar power project by November 11, 2011. The facility is expected to start commercial operations the following year as it only takes six months to complete a solar project, Morada explained.
The planned solar farms in Negros Occidental, Agusan del Norte and Zamboanga are expected to generate 10 MW.
So far, the biggest solar facility in the country is the 1-MW power plant owned by Cagayan Electric Power and Light Company.
While Morada did not disclose actual investment figures for the whole solar power portfolio, he noted that a company would need to invest $3 million to $4 million to produce a megawatt from solar resources. This means that for a 41-MW portfolio, the company has to shell out $164 million or about P7.38 billion.
“Our initial foray will be in the solar power area, but eventually, the goal really is in renewable energy. We will eventually diversify our RE portfolio. But for now, the focus is on solar energy,” Morada said in a briefing on Tuesday.
According to Morada, the company was initially looking at Camarines Sur because of the fact that the “governor of Camsur is one of the best governors in terms of undertaking renewable energy projects [and] is also eyeing Camsur as the first ever green province in the country.”
The planned 11-MW solar power project in Camsur will involve the provincial government, with the Camsur Watersports Complex (CWC) buying the electricity to be produced from the facility.
Morada said that the company has tapped Snowy Mountain Engineering Corp. (SMEC) to conduct the feasibility study for the 11-MW Camsur solar project as well as to provide the engineering consultancy services.
The Australia-based SMEC has been in the country for quite some time, servicing power giants such as First Gen Corp. and Aboitiz Power Corp. It is one of the leading engineering and development consultant firms in the world, particularly in the field of new and renewable energy.
Eco-Merge targets to hold its groundbreaking for the Camsur solar power project by November 11, 2011. The facility is expected to start commercial operations the following year as it only takes six months to complete a solar project, Morada explained.
The planned solar farms in Negros Occidental, Agusan del Norte and Zamboanga are expected to generate 10 MW.
So far, the biggest solar facility in the country is the 1-MW power plant owned by Cagayan Electric Power and Light Company.
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