Aboitiz Renewables, SunEdison commission Nari Group to build P3.5-B solar generator

The Nari Group Corp. is building a 59-megawatt peak (MWp) solar power generator in San Carlo, Negros Occidental for Aboitiz Renewables Inc. and SunEdison Philippines Helios BV.

The P3.5-billion project is the first joint solar development for SunEdison and Aboitiz Renewables, a unit of Aboitiz Power Corp. The partners awarded the Nari Group with the engineering, procurement and construction contract for the photovoltaic power generation project.

Aboitiz Renewables and SunEdison signed the shareholders' agreements for the equity sharing, governance structure, and other terms and conditions of the partnership in Maaraw Holdings San Carlos Inc. – the corporate vehicle for the 59-MWp project.

The joint venture company, which is 60-percent owned by Aboitiz Renewables, will undertake the acquisition, development and exploration of the 59-MWp solar photovoltaic power generation project.

The commercial operations of the Negros Solar Energy Project will commence in the first quarter of 2016.

In a disclosure to the Philippine Stock Exchange, Aboitiz Power said the 59-MWp generator is one of the largest solar power projects in the country.

“This project is in support of the call by the government to maximize the renewable energy potential of the country,” Aboitiz Power President and COO Antonio R. Moraza said.

Aboitiz Power and SunEdison announced last November a three-year plan to explore, develop, build and operate up to 300 MW of utility-scale solar energy facilities.

Aboitiz Power has a 3,044-MW power portfolio that encompasses coal, geothermal, hydropower, and oil resources. – Jon Viktor Cabuenas/VS, GMA News