MANILA, Philippines – AboitizPower Corporation and California-based SunEdison, Inc. will jointly develop up to 300 megawatts (MW) of power generating capacity in the Philippines.
A framework agreement was signed between SunEdison and Aboitiz Renewables, Inc. (ARI), a unit of AboitizPower.
The companies will jointly explore, develop, construct, and operate up to 300MW of utility-scale solar photovoltaic power generation projects over the next 3 years.
SunEdison CEO Ahmad Chatila called their agreement with AboitizPower an “ideal partnership,” citing the company’s extensive utility-scale experience in the Philippine power market, to be complemented with SunEdison’s leading solar technology and deployment capabilities.
“Together, we are ideally positioned to swiftly bring cost effective solar energy to the people of the Philippines,” Chatila said.
Starting 2015, the partnership eyes to develop the first in a series of utility-scale solar power projects in the Philippines, following similar arrangements by SunEdison in India and China.
“We are constantly exploring new energy sources, and this exclusive agreement with SunEdison is an important milestone and a welcome addition to our current portfolio of renewable energy.” said AboitizPower CEO Erramon Aboitiz.
SunEdison is transforming how energy is generated, distributed, and owned. It manufactures solar technology and develops, finances, installs, and operates distributed solar power plants, delivering predictably priced electricity and services to its residential, commercial, government, and utility consumers.
AboitizPower, meanwhile, is active in generation, distribution, retail energy sales, and trading and energy efficiency. Its current generating portfolio of 2, 210MW includes geothermal, hydro, coal, and oil plants. It is also committed to add 2,000MW in the next 5 years.
AbotizPower is also eyeing international expansion in South East Asia, particularly in renewable energy.
ARI is the holding company of AboitizPower’s investments in renewable energy generation. – Rappler.com
Photovoltaic cells image from Shuttestock
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