CEBU, Philippines — A South Korean company is planning to build an ambitious 100-megawatt agrivoltaic solar power farm in the northern town of Sogod, Cebu to help address the growing demand for power supply in the province.
A memorandum of understanding (MOU) was entered into by SelTech Co. Ltd and the local government of Sogod last month.
Mayor Lissa Marie Durano-Streegan signed on behalf of the municipal government while Bong Ho Cho represented SelTech Co. Ltd.
The company plans to establish a P5.7 billion ($100 million) Agrivoltaic Solar Farm in Sogod, a second-class municipality in the province.
The MOU was signed “for joint identification of a project site, the completion of institutional procedures, and logistical support for viable ways forward”.
Agrivoltaic is the simultaneous use of land to generate solar energy while producing agricultural products. This practice involves growing crops underneath a solar panel.
“In order to implement the above-mentioned project, the parties shall create a Technical Working Group to plan and establish relevant training, testing and evaluating cooperative activities, and conduct other relevant activities jointly decided,” reads a portion of the MOU.
This multi-billion investment is one of the company’s efforts to establish more solar-powered projects across the world, aligning its commitment under its National Renewable Energy Program 2020-2040.
Currently, the company’s operation has expanded internationally like the United Arab Emirates, Kenya, Sri Lanka, and Tanzania. Furthermore, SelTech is collaborating with Filipino-Korean C PASS Topwallet, allowing consumers to pay power bills electronically through a secured blockchain technology.
Just this year, the Cebu Provincial Government also entered into a memorandum of understanding with a Spain-based company for the construction of a 150-megawatt solar power plant in Daanbantayan, Cebu. — /FPL (FREEMAN)