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Joy~Nostalg Solaris, Inc., a fresh entrant in the renewable energy market that aims to build 1 gigawatt of installed capacity, has tapped a Chinese firm to help construct its solar farm in Iloilo province.
Solaris said it signed the engineering, procurement, and construction contract with Northeast No. 1 Electric Power Construction Co. Ltd. (NEPC), a subsidiary of China Energy Engineering Group, for its solar facility in Ajuy, Iloilo.
Philex Mining president and CEO Eulalio Austin Jr. said they have an application to explore a nickel tenement adjacent to the firm’s site in Zambales.
twin spin Article continues after this advertisementIt said the project is rated at 62.01 megawatt peak (MWp) — its maximum potential output.
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Construction works have already begun this month, with its completion expected by the latter part of 2025.
Article continues after this advertisementThe company said the Ajuy solar farm can power more than 25,000 households annually.
Article continues after this advertisement“[This accelerates] the company’s 1000 MWp renewable energy installation target in the next five years,” Solaris said.
Article continues after this advertisement“The project will also contribute to the economic growth of the Province of Iloilo and improve the power supply situation in the Panay Island,” it added.
The firm said the development also supports the government’s goal of scaling up renewables share in the power mix to 35 percent by 2030 from the current 22 percent.
Article continues after this advertisementSolaris is the solar energy company of the Joy~Nostalg Group, which has footprints in property development, hospitality and culinary, and leasing.
It is also an affiliate company of Palm Concepcion Power Corp. (PCPC), focused on renewable energy developments. PCPC operates the 135-megawatt coal-fired power plant on Panay Island.
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