Energy approves 20-MW solar power project in Ilocos Norte
The Energy Department has issued a certificate of commerciality to the 20-megawatt solar power project of Mirae Asia Energy Corp. of Korea in Ilocos Norte province.
The certificate allowed Mirae Asia to proceed with the construction of the solar project in the village of Paguludan in Currimao town and entitled it to avail of the feed-in tariff rate of P9.68 per kilowatt-hour.
Mirae Asia vice president Lito Badua told reporters the Energy Department issued the certificate of commerciality for the P2.4-billion project and that the company would now process the remaining permits for the construction.
“We are looking at starting construction around fourth quarter,” he said.
This is the third solar project in the Philippines given the certificate of commerciality. The other solar projects are the 30-MW solar farm of Philippine Solar Farm-Leyte in Ormoc and the 30-MW project of ATN Philippines Solar Energy Group in Rodriguez, Rizal.
Badua said Mirae Asia aimed to construct the project in nine to 12 months and start full commercial operations in the late part of 2014.
“This is in response to the call of government to put up renewable and indigenous sources of energy,” Badua said.
The solar project will cover 60 hectares. Mirae Asia has an existing but smaller solar project in Korea.
“Funding will be equity and loans from local and foreign banks,” Badua said.
Mirae Asia said in a recent presentation it concluded the topographic and geotechnical study of the plant site in Currimao.
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