MANILA, Philippines — AboitizPower Corp. said on Thursday that it has started building a 94-megawatt peak (MWp) solar power project in Barangay Cayanga, Pangasinan, which, if completed, will be the company's second solar venture.
The project seeks to create a "brighter future" for the province- one that is powered by renewable energy.
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In an emailed statement, AboitizPower said the 94 MWp solar project is expected to produce 147 million kilowatt hours (kWh) of clean power every year, which can power 60,000 typical homes. The solar venture is targeted for commercial operations by the fourth quarter this year.
The company said majority of the facility's capacity will be used for retail electricity supply, helping power consumers gain more access to clean power harnessed from the sun.
Engineering, Procurement, and Construction (EPC) firm JGC Philippines, Inc. will be in charge of building the facility. Late last year, JGC was awarded the P4.5 billion EPC contract by subsidiary Aboitiz Renewables, Inc. (ARI), a special-purpose vehicle fully-owned by AboitizPower.
“Cayanga Solar is a very significant project for us at ARI. This marks the beginning of our exciting journey ahead — growing our renewable energy portfolio over the next 10 years to accelerate the Philippine energy transition to more environmentally sustainable sources,” ARI Executive Director David Smith said.
According to Energy department Undersecretary Felix William Fuentebella, the solar farm's groundbreaking is proof that solar power is economically competitive and can help the country mitigate the impacts of climate change.
AboitizPower is the listed holdings firm for the Aboitiz Group's investments in power generation, distribution, and retail electricity services.
The company has a total of 48 power generation facilities nationwide, and owns nine distribution utilities. Its power generation portfolio consists of thermal and RE plants.
AboitizPower has vowed to significantly expand its "Cleanergy" capacity- its brand for clean and renewable power- in the next ten years. By 2030, it hopes to achieve a 50-50 balance between its Cleanergy and thermal portfolios.