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Manila Bulletin devider Trade & Energy devider Alternergy awards EPC to Japanese firm

Alternergy awards EPC to Japanese firm

Published May 8, 2023 08:53 am
Listed firm Alternergy Holdings Corporation (Alternergy) has awarded the engineering, procurement and construction (EPC) contract for its 20-megawatt Solana solar farm project to Japanese firm-subsidiary JGC Philippines. In a statement to the media, Alternergy emphasized that JGC Philippines was selected “after a competitive bidding process involving six (6) companies from China, Germany, India, Japan.” As of press time, the project sponsor-company has not given the scale of EPC cost yet that has been awarded to its contractor. Alternergy qualified that as a leading EPC contractor, “JGC serves industries including power, petroleum refining, petrochemicals, metals and minerals, and biofuels;” and on the solar development space,  it already completed projects with 800MW aggregate capacity; while another 170MW are under construction. The Solana solar farm development will form part of the renewable energy capacity buildup that Alternergy will be advancing to fruition within five-year span via its ‘triple play’ strategy of investment rollout in the renewable energy (RE) sector - not just in the Philippines but also in its targeted offshore markets. Following the selection of JGC, Alternergy similarly conveyed that its subsidiary Solana Solar Alpha Inc. (SSAI), which is the corporate vehicle undertaking the solar farm installation in Hermosa, Bataan, had “issued the notice to proceed with the early work activities.” According to Alternergy Chairman Vincent S. Perez, the award of the EPC contract has reinforced the company’s excitement “to move forward with the construction of the Solana project, part of the Alternergy group’s triple play portfolio.” He noted that Alternergy’s proceeds from its recently concluded initial public offering (IPO) “paved the way for the company’s full equity participation to the Solana project.” The former energy chief further stated that “the IPO proceeds also allowed Alternergy to settle obligation for the full purchase of the project site, which is only 500 meters from its interconnection point, the NGCP Hermosa substation.” The company had announced previously that the Solana solar farm development will be underpinned with a long-term power supply agreement cemented with the Peninsula Electric Cooperative Inc. (PENELCO), which is power service provider in Bataan.

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Alternergy Holdings Corporation solar project Renewable energy (RE) Solana
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