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Solar Philippines Nueva Ecija Corporation (SPNEC) seals a deal with Angeles Electric Corporation (AEC) for 10 years. AEC will buy solar power of 97.8 MWh from 6 AM to 6 PM capacity per day from the 500 MW Nueva Ecija solar park of SPNEC.
SPNEC is developing a 500MWp solar power plant in Barangay Las Piñas, Sinasajan, and Peñaranda, Nueva Ecija. The location has good levels of irradiance and adequate available land, making it conducive to solar power generation.
Nueva Ecija can sell the remaining of its energy to off-takers and spot market. SPNEC competed with four other bidders and secured the deal through competitive selection process (CSP).
“We wish to thank Angeles Electric for conducting a very professional CSP that will benefit the consumers of Angeles City. We’re grateful for this opportunity to work with Angeles Electric, a pioneer of the solar industry in the Philippines,” Solar Philippines Founder Leandro Leviste said.
“The contracting of the first phase of our solar farm shows that renewable energy in the Philippines is a supply-constrained market. This reinforces our drive to expand SPNEC’s capacity to meet the country’s great demand for renewable energy,” he added.
Angeles Electric Corporation is the third largest electric company in Luzon.