FILINVEST Development Corp. said Monday that its business unit, FDC Green Energy Corp., had officially started constructing its 20.75-megawatt (MW) solar power project worth around P700 million in Misamis Oriental.
Located within the Philippine Veterans Investment Development Corp. industrial estate, construction is set to be completed by the second quarter of next year.
“This significant milestone marks the beginning of a transformative journey toward achieving a balanced energy portfolio for the Filinvest Group,” FDC Green Energy Corp. President and Chief Executive Officer Juan Eugenio Roxas said.
“We aim to boost our renewable energy capacity in the coming years, underscoring our unwavering commitment to sustainability and innovation,” he added.
FDC said it was awarded a 25-year solar energy operating contract by the Department of Energy and involves installing over 34,000 monocrystalline solar panels.
These panels will generate approximately 30,450 megawatt-hours of clean energy annually and will greatly strengthen grid stability in the region.
On Monday, FDC’s share price rose by 4 centavos to close at P5.38 apiece.
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