EEI Power Corporation, the power subsidiary of Yuchengco-led construction firm EEI Corp., will be joining the renewable energy (RE) bandwagon by venturing into solar rooftop development.
Based on a Philippine Star report, the firm said that EEI Power is eyeing to become a major player in the solar rooftop market.
EEI Power also aims to increase its presence in the RE space by positioning itself among the top players in the solar rooftop market by serving commercial, industrial, and residential customers in the country.
Aside from solar rooftop, EEI Power is also planning to develop hydropower, battery energy storage systems, and other emerging technologies.
EEI’s first venture in the power sector was the 15-megawatt (MW) heavy fuel oil peaking power plant in Tagum City, Davao Del Norte in 2012, which currently serves the power requirements of the Davao Del Norte Electric Cooperative.
In February 2020, though, EEI Power divested its interest in the diesel plant, selling it to Strategic Energy Development, a subsidiary of SMC Global Power Holdings. This is in line with the firm’s commitment towards environmental stewardship through the utilization and deployment of clean and sustainable energy.
EEI Power has a ten percent stake in another Yuchengco firm PetroGreen Energy Corporation and is among the proponents of the 32MW Maibarara geothermal power plant project in Batangas.
EEI Power also owns 20% of the 36MW Nabas-1 wind farm of PetroWind Energy Inc. in Aklan, and a 44% share in the 50MWp Tarlac-1 Solar PV power plant of PetroSolar Energy.
The firm is adding a new revenue stream as it goes into the retail electricity supply market through wholly-owned subsidiary EEI Energy Solutions Corporation, which will join the competitive retail electricity market by providing retail energy supply to contestable customers in Luzon and Visayas.
Photo from EEI Power Facebook page.