ALTERNERGY Holdings Corp. said Wednesday that it had started construction of the P1.5-billion, 28-megawatt-peak Solana Solar Power Project in Hermosa, Bataan, which it expects to be completed by the first quarter of next year.
“The Solana solar power project is expected to be issued with its notice to proceed… and will start construction immediately,” Alternergy Chairman Vicente Pérez said during the groundbreaking ceremony.
“The project is expected to be done by the first quarter of 2025 and will be the 11th solar power project of the Alternergy Group,” he added.
“Overall, the Solana solar power project, together with the 64-megawatt (MW) Alabat and 112-MW Tanay wind power projects, will help accelerate Alternergy’s target in reaching 500 MW of total generating capacity by 2026.”
The project is a collaboration between Alternergy and subsidiaries Solar Pacific Energy Corp. and Solana Solar Alpha Inc.
“With the Solana solar power project now under construction, we are now on the active lookout for new projects and will be ready to file for new service contracts with the Department of Energy once the moratorium for the application of renewable energy service contracts is lifted,” Solar Pacific President Michael Lichtenfeld said.
Alternergy’s share price fell by 2 centavos to P0.69 each on Wednesday.
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