ABOITIZPOWER, a wholly owned subsidiary of Aboitiz Equity Ventures Inc. (AEV), is planning to put up a solar power facility in the Visayas with an expected capacity of 40 to 100 megawatts (MW).
Manuel Lozano, AboitizPower chief financial officer (CFO), said the company plans to begin construction of the solar power plant this year.
“If our negotiations proceed, we might be able to get the project running also this year,” Lozano told reporters.
Lozano said they have to rush completion of the solar facility so that it could meet the March 2016 deadline for feed-in-tariff (FIT) allocations for solar.
“Ideally, we want to start something by July so we can catch up with the March 2016 deadline. Solar is fast,” he added.
AboitizPower has partnered with American firm SunEdison, a leading solar technology manufacturer and provider of solar energy services, for the solar project.
He said solar projects could be installed within four to six months.
Lozano said the two companies are looking at existing solar contracts that they could join.
Aboitiz Power last year teamed up with SunEdison to construct solar power projects in the Philippines.
The two companies said they aim to develop the first in a series of utility-scale solar power projects this year.