February 10 (SeeNews) - South Korean firm Mirae Asia Energy Corp on Tuesday marked the official completion of its 20-MW Ilocos photovoltaic (PV) plant in the northeastern parts of the Philippines, The Manila Times reported.
The company worked on the solar project in collaboration with San Lorenzo Ruiz Builders and Developers Group Inc (SLRB) and Singapore-based independent power producer (IPP) Soleq. The scheme required a total investment of approximately USD 50 million (EUR 44.3m), as previously reported.
The solar farm is located in Ilocos Norte province’s municipality of Currimao. It is expected to be able to generate some 33 GWh of electricity each year, enough to power around 29,328 local households and offset 16,566 tonnes of greenhouse gas emissions annually, according to the report.
In 2016, the Philippines are projected to make progress and try to break through to 100 MW of solar capacity, according to data by GTM Research.
(USD 1.0 = EUR 0.885)