Nextnorth Holdings Corp. and partner French firm TotalEnergies plan to hold the groundbreaking for one of the largest solar farms in the Philippines—a 440-megawatt facility in Ilagan City, Isabela by December 2024 or the first quarter of 2025.
The P18-billion project is expected to generate thousands of jobs for local communities in Isabela, said Miguel Mapa, the 33-year-old founder, president and chief executive of Nextnorth.
“This is an infrastructure project technically as well with a project cost of around P18 billion. There are multiple permits, multiple financial arrangements, and many other commercial arrangements that you have to get in place before you actually break ground,” Mapa said in an interview.
“Based on our calendar, we’re trying to break ground within the next few months. Realistically, because we’re entering the holiday season, which was our goal, by December, or first quarter of next year which is really the realistic time,” he said.
Mapa said they would undertake the project construction in phases and would take around 15 to 18 months, with commercial operations eyed by the third quarter of 2026.
He said at the peak of the construction, the solar project will need around 4,000 workers.
“Aside from building the power plant itself, [we are] contributing to the local economy because a lot of these workers that we will ask to participate and help us, will be sourced first within the local communities. Operationally, it’s going to generate maybe between 100 and 200 employment,” he said.
Mapa said the company is confident of securing supply contracts for the power plant’s capacity.
“In terms of power supply, the buyers of power, there is really a market… Now, it’s actually the other way around. We’re seeing the demand outweigh the supply in terms of renewables. Electric utilities and electricity suppliers who service the end customers, they are the ones who approach, look for renewable energy capacity,” Mapa said.
He said the government opened the market for consumers to be able to choose their suppliers. “More and more end-customers such as factories, etc. are choosing to procure energy. They want green energy,” he said.
Mapa said NextNorth is also looking at developing more renewable energy projects including run-of-rive hydropower plants in Northern Luzon.
Be the first to comment