SunEdison has entered into a joint framework agreement with Aboitiz Renewables to develop to jointly construct and operate up to 300 megawatts (MW) of utility-scale solar photovoltaic projects in the Philippines.
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The partnership is ideal because AboitizPower has extensive utility-scale experience in the Philippine power market, and SunEdison has leading world-class solar technology and deployment capabilities. Together both are ideally positioned to swiftly bring cost effective solar energy to the people of the Philippines, said Ahmad Chatila, chief executive officer, SunEdison.
Aboitiz Renewables is constantly exploring new energy sources, and this exclusive agreement with SunEdison is an important milestone and a welcome addition to the current portfolio of renewable energy, said, Erramon I. Aboitiz, chief executive officer, Aboitiz Power. Its deep knowledge of local markets, together with SunEdison’s proven track record and cutting edge technology, will enable to rapidly achieve the goal, explained Aboitiz.
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The partnership targets to develop the first in a series of utility-scale solar power projects in the Philippines starting in 2015.
SunEdison has made similar partnerships in India and China by leveraging of its ability to deploy cost effective solar energy solutions.
The Philippines has set a target of escalating its renewable energy capacity by 2030. The government plans to have an installed renewable energy capacity of 15,400 MW, which will cater to half of the country’s power demand.
Sabeena Wahid