ET Solar, a global provider of smart solar energy solutions, has signed an agreement to build a 70 MW solar power project in the Philippines, along with the local renewable energy developer Gate Solar Philippines Corp.
The power plant, ET Solar’s first in the Philippines, is expected to be operational in March of next year. The company also is investing in the project.
ET Solar CEO and President, Dennis She, said “This is yet another large-scale project in Asia, and our first in the Philippines. It demonstrates our ability to handle every aspect of utility-scale solar plants from planning and financing, through construction and all the way downstream to O&M. With our integrated capabilities and global experience, we are able to achieve the lowest possible LCOE.”
“In this particular project, we were not only competing against other players for the contract; we were also racing against time to be eligible for the highest tariff rate. Once again, our ability to integrate all the required resources and move faster than other companies got us to the finish line first.”
ET Solar will serve as the co-development partner and technology sponsor, as well as the investor in the project.