SUMMARY
This is AI generated summarization, which may have errors. For context, always refer to the full article.
MANILA, Philippines – The Imperial Homes Corporation (IHC), in partnership with the Belgium-based Enfinity Group, is set to develop a solar-powered, 1,000-unit, mass housing project in Santo Tomas, Batangas.
To be called Via Verde and valued at P600 million ($13.36 million*), the first solar-powered subdivision will be in a 3-hectare property, with a combination of row houses and 2-bedroom townhouses.
A 500-watt solar panel will be installed in every unit for free to allow buyers to enjoy lower electricity rates through the lease-back program of Enfinity.
Enfinity finances, builds, owns, operates, and maintains solar power with operations in the US, Canada, Europe, and Asia Pacific.
Enfinity will install the solar panels in all the 1,000 units valued at $1 million. “These solar-powered homes will drastically reduce the cost of electricity and provide a greener environment for our low-cost housing projects,” IHC Chairman Emma Imperial told reporters on Thursday, November 27.
The project aims to alleviate the country’s backlog in mass housing currently pegged at 3 million, as well as help provide a greener solution to the worsening effects of climate change, Imperial said.
“Our share in the joint venture partnership with Enfinity is the land itself where the 1,000 homes will be put up,” Imperial said.
Solar energy is ‘ideal’
Imperial said solar energy is ideal for communities because it is clean, renewable, and sustainable. “By not using any fuel, solar energy does not contribute to the cost and problems of the recovery and transportation of fuel,” Imperial added.
Via Verde’s contribution to the renewable global efforts will translate to $1.4 billion in fossil fuel consumption and 941,000 tons of carbon emission elimination annually.
IHC’s project is also anchored on the “transformational business model” presented by Imperial during the World Bank Housing Conference in May 2014 in Washington, DC, and the International Finance Corporation’s Climate Business Forum in Hong Kong last October 29.
“We are also expecting to receive World Bank’s Certificate for ‘Green Building’ anytime soon,” Imperial said.
The Via Verde project will be formally launched on January 14, 2015. –Rappler.com
*($1 = P44.93)
Add a comment
How does this make you feel?
There are no comments yet. Add your comment to start the conversation.