Philippine firm Aboitiz Power Corp (PSE:AP) and its US-based partner SunEdison Inc (NYSE:SUNE) plan to install a solar park at home, in the Visayas, with an expected capacity of between 40 MW and 100 MW.
The goal is to begin work on the solar plant this year, ideally by July, in order to have it completed before the March 2016 deadline for solar feed-in tariffs (FiT), AboitizPower chief financial officer (CFO) Manuel Lozano told reporters, as cited by the Manila Times on Tuesday.
The two parties are considering joining existing solar contracts, Lozano has added.
As announced last November, Aboitiz and the US renewables major entered into a partnership to install up to 300 MW of utility-scale solar capacity in the Philippines over a three-year period starting in 2015. The target was later reduced to just 100 MW.