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Manila Bulletin devider Business devider Winsun bags Caloocan City's solar power projects

Winsun bags Caloocan City's solar power projects

Published Oct 20, 2023 07:56 am

At A Glance

  • Winsun Green Ventures, Inc. (WGVI), a subsidiary of Greenergy Holdings Inc. (GREEN), has received approval to pursue solar power projects in Caloocan City.<br>The Caloocan city government issued a certificate of acceptance for WGVI's unsolicited proposal for Solar Power Systems.<br>The project involves financing, design, engineering, procurement, installation, operation, and maintenance of Solar Power Systems on buildings owned, administered, or controlled by Caloocan City.<br>WGVI is engaged in energy projects related to the exploration, development, and utilization of renewable energy resources.<br>It is also involved in the operation of renewable energy systems and facilities within and outside the Philippines.

Winsun Green Ventures, Inc. (WGVI), a subsidiary of Greenergy Holdings Inc. (GREEN), has been granted permission to proceed with its planned solar power projects in Caloocan City.

In a disclosure to the Philippine Stock Exchange, GREEN announced on Friday, Oct. 20, that it received a certificate of acceptance from the city government for the unsolicited proposal for Solar Power Systems.

According to GREEN, the project encompasses the financing, design, engineering, procurement, installation, operation, and maintenance of Solar Power Systems on buildings owned, administered, or controlled by Caloocan City.

“With the issuance of the Certificate, the PPP [Public Private Partnership] Selection Committee of the City and WGVI are now authorized to proceed with detailed negotiations on the terms and conditions of the proposed Project,” GREEN said.

WGVI focuses on energy projects involving the exploration, development, and utilization of renewable energy resources. 

It is also engaged in the operation of renewable systems and facilities, both domestically and internationally.

Last Sept. 19, GREEN said it was investing an additional P480 million into WGVI

“The transaction will strengthen the position of [Greenergy] in renewable energy and sustainable community projects,” GREEN said.

According to GREEN, the company made an initial payment of P185 million upon subscription, and the remaining balance of P295 million is scheduled to be paid within 60 calendar days, specifically by Nov. 17. (Gabriell Christel Galang)

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renewable energy Greenergy Holdings Inc.
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