Philippine company Amatera Renewable Energy Corp. has entered into a memorandum of agreement (MOA) with Korean partner TPC Construction Corp. for the development of a 50 megawatt solar power plant in Bacolod City. The project is estimated to cost PHP 2 billion (USD 38.4 million).
Under the agreement, Amatera is leasing a 74-hectare Lacso land for 25 years to the Korean firm for the first-ever large-scale solar power project in Bacolod. The 50MW solar may energize about 230 households during the daytime. Once connected to the grid, it will benefit Bacolod households and those in other areas in the country.
The firms target to start the operation by 2020, in time for the completion of the Cebu-Negros-Panay 230-kilovolt (kV) Backbone Project of the National Grid Corp. of the Philippines (NGCP).
(Sources: Philippine News Agency; SunStar Bacolod)