SunEdison, Aboitiz to build 300 MW of PV in Philippines

Nov 12, 2014 - US solar company SunEdison Inc (NYSE:SUNE) will partner with Aboitiz Power Corp’s (PSE:AP) renewables unit to install as many as 300 MW of utility-scale solar capacity in the Philippines in the next three years.

The US firm and Aboitiz Renewables Inc will jointly explore and develop the projects and then construct and operate the plants, according to a press release today. They did not provide investment details, but said they would aim to develop their first projects in the Philippines starting in 2015.

The partners are combining SunEdison’s photovoltaic (PV) technology and deployment capabilities and Philippine-based Aboitiz’ experience in the local market. “Together we are ideally positioned to swiftly bring cost effective solar energy to the people of the Philippines,” said the US company’s CEO Ahmad Chatila.

SunEdison already has similar and even more ambitious plans in two top solar markets in Asia. About two weeks ago it said it would build 5 GW of solar power capacity in Rajasthan, India. Earlier in October the US firm said it will expand in China through a joint venture (JV) that aims to build and own up to 1 GW of utility-scale solar capacity over the next 3 years.

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