Korean firm opens Ilocos solar farm
DINGRAS, Ilocos Norte, Philippines – Another solar farm went online in Ilocos Norte on Monday.
The one-megawatt solar farm is the first renewable energy project of Korean company Bosung Powertec Phils. Inc. in the country constructed under a build-operate-transfer scheme.
Moon Jiang, president of Bosung Powertec, said the 1.6-megawatt solar plant worth $3 million is expected to provide additional revenues of P11 million annually.
“The break-even point to recoup our investment is assumed to be at 12 years. We will then turn over all the facilities to INEC (Ilocos Norte Electric Cooperative) free of charge and as scheduled by mutual agreement,” Jiang said.
Felino Herbert Agdigos, INEC general manager, said the solar farm would make the cooperative less dependent on coal and minimize its carbon footprint.
“This will definitely improve voltage quality in the province because of the project’s proximity to our distribution system, which will enhance system efficiency and power quality,” Agdigos added.
Ilocos Norte has two other existing solar plants – a 7.9- MW facility established by Energy Development Corp. in Burgos town and a 20-MW plant of Soleq Philippines Inc. in Currimao town.
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