now loading...
Wealth Asia Connect Middle East Treasury & Capital Markets Europe ESG Forum TechTalk
juwi enters Philippine market with solar PV power plant
Germany’s juwi group has expanded to the Philippines with its first project in Mindanao. It has been selected as the preferred EPC (engineering, procurement and construction) partner
The Asset 3 Sep 2014
Germany’s juwi group has expanded to the Philippines with its first project in Mindanao.  It has been selected as the preferred EPC (engineering, procurement and construction) partner to build a ground-mounted, grid-connected utility scale solar PV power plant by the project’s sponsors, an international developer and sector focused private equity fund. 
 
The solar farm is scheduled to be completed by early next year and will have an installed capacity of 6.25 Megawatt (MW).  The plant’s 20,500 photovoltaic modules will produce more than 9 million kilowatt hours of climate friendly electricity per year and will thus help to support the country’s growing electricity needs, sustainably.
 
This first solar PV plant with more than 1 MWp capacity in Mindanao is a testament to how renewable energy can supplement day-time peak loads usage, as a viable alternative to traditional diesel power. According to the plant’s owners, it will be one of the largest diesel replacement power plants when it is completed, given that 100% of its generated power will replace diesel-generated peak power.
 
Kai Klingenhagen, business development manager for juwi in the Philippines, states: “Many regions in the country heavily depend on fossil fuels or diesel to generate electricity. Especially the island-region of Mindanao where load shedding and brownouts are prevalent, renewable energies such as wind and PV solar power can provide a clean, quick and cost-effective alternative.”
 
Amiram Roth-Deblon, juwi regional director Asia-Pacific, adds: “The 6.25 MW Mindanao solar PV plant is our first project in the Philippines but there is already a well filled project pipeline and in the next weeks we are expecting to close several additional projects. We have been active in the Philippines since 2010 and have been working closely with developers, investors, local utilities and authorities to focus on realizing utility scale renewable energy plants where it is needed the most. The Philippines is one of the fastest growing economies in Asia with great potential for renewable energies.”
 
Due to a projected power deficit forecast for 2015, the government of the Philippines is currently increasing the volume of power generation from solar energy plants from 50 MW to 500 MW.  Thus, solar power projects that fall below that threshold will be guaranteed rates of return for the duration of 20 years. The hike in in the installation cap was initiated to fight the countrywide shortfall of energy.
 
 

    

Conversation
Eric Liu
Eric Liu
portfolio manager, Asian credit
BlackRock
- JOINED THE EVENT -
17th Asia Bond Markets Summit - China Edition
Rebalancing in the transition journey
View Highlights
Conversation
Nor Masliza Sulaiman
Nor Masliza Sulaiman
group head investment banking, deputy chief executive officer
CIMB Investment Bank
- JOINED THE EVENT -
6th Global Islamic Finance Issuers and Investors Leadership Dialogue
Marking time as new opportunities emerge
View Highlights