Equis Commissions 132.5 MW Solar Project in the Philippines
Singapore, 3 March 2016 – Equis Pte. Ltd. (Equis), Asia’s largest independent renewable energy developer and investor, today inaugurated a 132.5‐megawatt (MW) solar project in Cadiz City, Negros Occidental, the Philippines (Cadiz Project). The Cadiz Project is Southeast Asia’s largest solar project.
The Cadiz Project was developed by Helios Solar Energy Corporation (a joint venture between Gregorio Araneta, Inc and Soleq) and is the 24th renewable energy project Equis has commissioned in the last three (3) years, with another 60 projects under development and construction. Soleq is one of Southeast Asia’s largest solar independent power producers and an Equis investee company.
The Cadiz Project brings Equis’ operating renewable energy portfolio in the Philippines to four (4) projects comprising 236.5 MW, following the completion of a 20 MW solar project in Currimao (February 2016), a 30 MW solar project in Leyte (April 2015), and a 54 MW wind project in Rizal (June 2015).
David Russell, CEO at Equis, stated, “Equis is excited to deliver another first for Asia and the Philippines. As we expand into our target markets we increase our ability to bring costs down for consumers whilst advancing the efficiency and reliability of renewable energy in markets reliant upon imported fossil fuels.” The Cadiz Project is:
- Southeast Asia’s largest solar project;
- eligible for the Philippine government’s feed‐in tariff program, a scheme that requires the power sector to source electricity from renewable energy generation at an agreed tariff for 20 years;
- will supply the electricity needs of approximately 167,526 homes with 188,500 MWh of renewable energy;
- will save an estimated 177.7 million litres of water and 94,627 tonnes of greenhouse gas (GHG) emissions (equivalent to 19,996 passenger vehicles) per annum; and
- has created additional employment opportunities in the local and surrounding areas.
With over 100 professionals employed in Manila, Equis will continue to support the Philippines’ renewable energy industry with additional projects scheduled for commissioning in 2016.