Aboitiz Renewables, SunEdison to develop up to 300 MW solar energy projects

Solar energy service provider and technology manufacturer SunEdison Inc. has partnered with Aboitiz Renewables Inc. to develop up to 300 megawatts (MW) of solar power projects in the country.

 

In a disclosure to the Philippine Stock Exchange, Aboitiz Power Corp. said the agreement between SunEdison and Aboitiz Renewables formalizes "... their intention to jointly explore, develop, construct and operate up to 300 megawatts of utility-scale solar photovoltaic power generation projects in the Philippines over the next three years."

 

The tie-up seeks to develop starting next year the first in a series of solar power projects in the country.

 

SunEdison has a similar arrangement in India and China.

 

SunEdison CEO Ahmad Chatila said AboitizPower has an "extensive" utility scale experience while SunEdison has "leading world-class" solar technology and deployment capabilities. 

 

"Together we are ideally positioned to swiftly bring cost effective solar energy to the people of the Philippines," Chatila said.

 

A photovoltaic device generates electricity directly from sunlight through an electronic process, according to Solar Energy Industries Association. 

 

Aboitiz Renewables is a wholly owned subsidiary of AboitizPower. – Kathryn Mae P. Tubadeza/VS, GMA News