Korean listed firm Shinsung Solar Energy has started searching for business opportunities in the Philippines, particularly for a possible local partner in the development of solar power projects in the country.
Dr. Young Hyun Cho, Shinsung Solar Energy senior executive vice president, said, “We are contacting some companies in Vietnam, Mongolia, Uzbekistan and Thailand. The Philippines is also one of the candidates.”
Cho was speaking to reporters on the sidelines of the ongoing 10th Asia Clean Energy Forum being held at the Asian Development Bank headquarters in Manila.
When asked about the target capacity of its possible projects in the country, Cho said it will be solely dependent on the market.
“We are not just focusing on a dream project; we are more focused on realistic projects. It really depends on the market of a local area. A few megawatts is okay, up to a hundred megawatts is okay, but it really depends on the local community and local area needs,” he said.
Shinsung uses silicon for its solar cells, which Cho said is already mainstream technology.
“It’s mainstream. Nowadays more than 85 percent of solar products are based on silicon solar cells,” he added.
Compared to other solar power firms, Cho said their company is developing a more advanced technology.
“Basically, the same technology, but we develop more advanced technology like the n-type cell technology so we have more power and highly efficient solar cells developed,” he added.
In terms of the amount of investment it plans to pour in, Cho said the company will still have to study that aspect.
“We have to study first, but I know you have a lot of islands and up to now, I know that your main electricity comes from diesel power plants but, you know, diesel is very polluting,” said Cho.