The Philippines is to become the home for one of Asia’s biggest solar PV plants.
Ormoc City may well become the renewable-energy capital of the world in an exciting development for the Philippines renewable energy efforts.
Aside from its vast geothermal resource, the city will soon host a solar power plant touted to be the biggest of its kind in Asia. This was learned during the courtesy call of a Korean investor to Mayor Eric C. Codilla.
Young J. Soon, chief operating officer of Philippine Solar Farm-Leyte Inc., said his company is now in the process of securing a permit from the Department of Energy to put up a 30-megawatt solar power plant on a 44-hectare area in Barangay Dolores. Project cost is $72 million or P2.9 billion.
Soon expects their permit to be approved this month, after which they will seek financing from Korea Development Bank Daewoo Security Co. If everything goes as planned, construction of the plant will begin in July or August so it can become operational by the first quarter of next year.
Soon said they chose Ormoc because of the convenience of connecting with the National Grid Corp. of the Philippines. Moreover, he said the rolling terrain is suitable for the plant’s structures which could serve as a tourist attraction. Dolores is an elevated area 10.5 kilometers from the city proper.