A of unit of Greenergy Holdings Inc. has inked a partnership with a Cainta, Rizal-based consortium for a solar panel project aimed at establishing a sustainable residential community in Bacolod City.

In a disclosure to the Philippine Stock Exchange on Friday, Dec. 1, Greenergy said its wholly-owned subsidiary, Winsun Green Ventures, Inc. (WGVI), has entered into a memorandum of agreement with WRS Holding Inc. and Scheirman Construction Consolidated Inc.

Greenergy said the agreement is for the design of the solar panel system and other “green”components for the development of a mixed-use integrated housing community in Bacolod City.

“Under the agreement, WGVI shall also assist in the marketing and selling of the housing units of the project,” Greenergy said.

“The agreement shall be in force and effect until the termination of the joint venture agreement entered into between the City of Bacolod and the developer,” the company added.

In March, the Bacolod city government partnered with the Cainta, Rizal-based consortium, to invest P2 billion in building up to 20,000 housing units in specific areas through a public-private partnership (PPP). 

Bacolod, the first local government unit in the Philippines to implement the Pambansang Pabahay para sa Pilipino Program, entered into a joint venture agreement (JVA) with the Scheirman consortium. 

Under the JVA, the construction of the buildings will be carried out by the Scheirman consortium "at no cost" to the city government and the Department of Human Settlements and Urban Development (DHSUD). 

In return, the city government will provide the land for the human settlement/housing units. 

With a commitment of P2 billion in funding, the private partner will primarily build housing units for informal settler families (ISFs) in two sets of 10,000 units each. (Gabriell Christel Galang)