Solana Solar Alpha Inc. (Solana Solar), a wholly-owned subsidiary of Alternergy Group’s Solar Pacific Energy Corporation (Solar Pacific), announced the signing of a power supply agreement with Kratos RES, Inc., a wholly-owned subsidiary of Villar Group’s Prime Asset Ventures, Inc. (PAVI) engaged in retail electricity supply.
Solana Solar will supply Kratos RES with 10 MW and up to 20 MW of clean and renewable power from the soon-to-be-built Solana Solar Power Project located in Hermosa, Bataan.
“We are pleased to partner with Kratos RES to help its electricity end-consumers achieve their sustainability goals and transition their power supply to renewable energy,” Alternergy Chairman and Solana Solar Chairman and President Vicente S. Pérez Jr. said.
“The Solana Solar Power Project will provide reliable and cost-competitive electricity supply to malls, offices, complexes and manufacturing facilities served by Kratos, whose businesses require operational and cost efficiencies. By partnering with Kratos, we are proud to assist these sectors make sustainability part of how they operate,” Solar Pacific Chief Executive Officer Mike Lichtenfeld said.
Kratos RES welcomed the partnership with Solar Pacific. “Kratos is committed to delivering the needs of our customers with a high-quality supply and in a cost-efficient manner. Our partnership with Solana Solar will help address these,” Jose Rommel Orillaza, Kratos RES Operations Head, said.
The 20MWAC/28WDC Solana Solar Power Project has recently secured financing commitments from a leading Philippine commercial bank and a commitment for the Engineering, Procurement and Construction (EPC) from a leading EPC provider. Early works activities have started with the full-swing construction to commence in the coming months.