JGC Philippines, a subsidiary of the Japanese company JGC Holdings Corporation, has been awarded Alternergy Holdings Corporation’s EPC contract for the 20-megawatt Solana Solar Farm Project.
Alternergy stated to the media that JGC Philippines had been selected after an international competitive bid process which involved six companies based in Germany, China, India and Japan.
The project sponsor company has not yet disclosed the exact cost of EPC that it has awarded to the contractor.
Alternergy stated that JGC is a leader in EPC contractors, serving industries such as power, petroleum refinery, petrochemicals and metals and minerals. It also completed solar projects with an aggregate capacity of 800MW, while another 170MW was under construction.
The Solana Solar Farm development will be part of Alternergy’s triple-play strategy to invest in renewable energy in five years. This will include both the Philippines and its target offshore markets.
Alternergy, which had selected JGC as the contractor for the solar farm in Hermosa (Bataan), also stated that its subsidiary Solana Solar Alpha Inc., the corporate vehicle responsible for the installation, had issued the notice to begin early work activities.
According to Alternergy chairman Vincent S. Perez, the awarding of the EPC contract reinforced the excitement of the company to move ahead with the construction of Solana, which is part of Alternergy’s triple-play portfolio.
He said that Alternergy’s recent initial public offering (IPO), which was completed in May, “paved the path for the company to participate fully with equity in the Solana Project.”
The former energy chief also stated that “the IPO proceeds allowed Alternergy the opportunity to settle obligations for the full purchase of the project site which is only 500 metres from its interconnection point NGCP Hermosa.”
The company announced that it had signed a long-term agreement with Peninsula Electric Cooperative Inc., a power service provider located in Bataan.
