Aboitiz Power Corporation has awarded its engineering, procurement, and construction (EPC) contract for its 94-megawatt peak Cayanga-Bugallon solar power plant project in Pangasinan (photo of site above).
The company, through subsidiary Aboitiz Renewables, Inc. (ARI), awarded the deal to JGC Philippines, the country’s largest EPC firm.
JGC will be spending Php4.5 billion to work on the 196-hectare project. Construction is set to begin immediately, and is expected to be completed by the fourth quarter of 2022.
“We are excited to work with JGC Philippines on this project, given our shared values and vision of helping create a more sustainable energy system for all. This partnership is also aligned with our aspiration of growing Cleanergy in the next ten years,” ARI Executive Director David Smith said in a statement. Cleanergy is AboitizPower’s brand for its renewable energy (RE) portfolio.
Once completed, the power plant is expected to produce 147 million kilowatt-hours of clean energy annually or enough to energize over 60,000 homes annually.
The majority of the facility’s capacity will be contracted for retail electricity supply, which can help bring cleaner and more sustainable energy to power consumers across the country. AboitizPower’s retail electricity suppliers are part of the government’s Retail Competition and Open Access program and the Green Energy Option Program.
“We’re only just beginning. There are greater things ahead, but this is surely a key step toward our 10-year strategy of growing our renewable energy capacity as well as striking a 50:50 balance between our Cleanergy and thermal portfolios by 2030,” said AboitizPower President and CEO Emmanuel Rubio.
The company previously announced that it will invest around Php190 billion to build an additional 3,700 megawatts in RE capacity for renewables to comprise half of its power generating portfolio by 2030.
Last week, shareholders of parent firm Aboitiz Equity Ventures also approved Japanese firm JERA’s investment in AboitizPower for RE and liquefied natural gas projects in the country.