Skye Renewables Energy Pte. Ltd., a joint venture between Idemitsu Kosan Co., Ltd. and Skye Renewables Holdings will commence its rooftop solar power generation business in the Philippines. Skye Energy has entered into a power purchase agreement with Fast Coldchain Solutions, Inc., a regional cold storage company in the Philippines.
Skye Energy, through its subsidiary Skye Renewables Philippines, Inc., has concluded a power purchase agreement with Fast, a subsidiary of Fast Services Corporation, located in Imus, Cavite, Philippines, and provides the generated electricity to Fast’s facility.
The solar system is expected to produce approximately 650MWh of renewable electricity and reduce roughly 440 tons of CO2 per year.
This is the first rooftop solar project for Skye in the Philippines. Skye Energy will expand its solar power business towards industrial and commercial customers in the Philippines’ renewable market and have plans for concluding 3 power purchase agreements with different customers shortly.