ATN Phils Solar Energy to invest P5.68 B in 30-MW power project

MANILA, Philippines - ATN Philippines Solar Energy Group Inc., a joint venture between ATN Holdings Inc. and Transpacific Boardbrand Group International Inc. will be investing P5.676 billion for a 30-megawatt solar power project in Montalban Rodriguez, Rizal.

The project will be able to produce 60 million kilowatthours of clean energy which will be sold for P17.95 per kilowatthour. It would employ a total of 30 personnel when it starts commercial operation in December 2013.

ATN is targeting to serve Metro Manila, particularly the peak demand of malls in the high growth business districts of Quezon City.

It can also sell electricity directly to end users under the Wholesale Electricity Sport Market (WESM) set-up. It may also negotiate with the National Power Corp. as primary off-take customers that will distribute power through the Transeco.

ATN will put the plant in the 324-hectare property of ATN Holdings in Montalban, Rodriguez Rizal, which is less than 10 kilometers away from densely populated business districts in Metro Manila.

The company said that its power supply during the peak hours would contribute in the reduction in capital cost of base load generating plants that use imported coal, and save the country’s foreign exchange capital and operating costs for power generating units.

The Board of Investments (BOI) has given perks to the project because it is under the Mandatory List of the Investment Priorities Plan and is entitled to incentives under the RE. Law or RA 9513. The firm is also registered with the Department of Energy as a new RE developer of solar energy resources.

However, the BOI said that once the feed-in-tariff (FIT) is in place, ATN should no longer be entitled to income tax holiday as the FIT is in itself the guaranteed return.