Emerging Power, Inc. (EPI), the renewable energy (RE) unit of Zamora-led Nickel Asia Corporation (NAC) – is looking to expand its Mt. Sta Rita Solar Power Project in the Subic Bay Freeport Zone by 38 megawatts (MW).
NAC said in a statement on Thursday that EPI – through subsidiary Jobin-SQM, Inc. (JSI) – aims to up the project’s capacity from the current 62MW to 100MW by the second quarter.
In February 2021, JSI was awarded another 100 MW Solar Energy Operating Contract by the Department of Energy. JSI is currently in the pre-development stage and is looking to sign the engineering, procurement, and construction contract this year, with a target of full commercial operation by 2024.
Aside from expanding JSI’s projects, EPI said it is in the process of developing land in high irradiance areas in the country to grow its investments in solar power generation. It is in the final stages of acquiring a solar power project in the Visayas.
EPI is looking to reach 1,000MW by 2028, adding about 500MW by 2025. It is likewise in search of appropriate sites for wind power projects.
NAC posted an attributable net income of Php7.81 billion for 2021, up 91% from Php4.07 billion in 2020.
Click here for more details on NAC’s 2021 financial performance.
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