Enfinity Global earmarks 33% of global projects this year to PHL, worth Php 8 B

By Juzel L. Danganan

MANILA, May 6 (PNA) — Belgian-firm Enfinity Global will build a third of its global projects this year in the Philippines, through solar panels with a capacity of 100 megawatts (MWs) amounting to Php 8 billion.

”A huge part of our global projects this year will be in the Philippines at 100 MW,” Enfinity Global Founder and chief executive Gino Van Neer told reporters.

Van Neer said another 100 MW would be divided in other Asian countries, namely India, China, Malaysia and Thailand.

He also said the company also targeted to build 100 MWs of projects in Europe and the Middle East.

Overall, the Philippines will have a third of Enfinity’s portfolio this year, comprising a total of 100-MW solar farms from four different areas, expected to be fully installed by the end of the year.

Enfinity Global formed subsidiary Enfinity Philippines to build the local projects.

Enfinity Philippines President Dennis Ibarra said “the first four projects are 20 MW in Clark, Pampanga, 40 MW in Concepcion, Tarlac, 40 MW in Digos, Davao del Sur and 3 MW Cavite”.

The four projects will cost Php 8 billion and will be solely financed by Enfinity Global, transmission line costs and other project expenses were also factored in.

Enfinity has already signed a Power Purchase Agreement (PPA) with Tarlac Electric Cooperative Inc. (TARECO) for the upcoming 40 MW solar farm.

Also, some distribution utilities in Mindanao had already signed bilateral PPAs with Enfinity, Ibarra said, adding that solar, at a Feed-in-Tariff (FIT) rate of Php 8.69 per kilowatthour (kWh), was cheaper than Php 11-13/kWh from diesel plants.

Van Neer added that the recently approved FIT rate showed that the Philippines was committed to solar energy.

All the four projects have already secured a renewable energy service contract. Construction is expected to start this month by its contractor Greenlight Power Inc.

Ibarra also said the 100-MW solar farms could deliver 150 Gigawatthours (GWh) of clean energy per year, enough to power homes of 100,000 families.

Aside from huge solar farms, Enfinity Global plans to install a 20-MW capacity of solar rooftops in the country this year.

”We will soon start to install solar projects on commercial rooftops; warehouses, manufacturing plants and malls. We aim to install this year alone over 20 MWp of rooftops,” Van Neer said.

Enfinity said the company would install the solar panels with no upfront costs and would only be paid for its generated power capacity.

However, this is only a start for Enfinity Philippines, as the parent-firm wants it to build a portfolio of 500 MW in the next three years.

Another three projects, with a capacity of 150 MWs, are under development. (PNA)