Alternergy to complete solar+BESS Palau project in 2022
By Myrna M. Velasco – December 19, 2022, 3:12 PM
from Manila Bulletin
Solar Pacific Energy Corporation (Solar Pacific), a subsidiary of Filipino-led firm Alternergy, is eyeing the completion of its solar photovoltaic (PV) and battery energy storage system (BESS) installation in the Republic of Palau by next year, marking the company’s investment debut in the international scene.
The hybrid renewable energy (RE) project comprises of 15.3-megawatt peak (MWp) solar PV capacity and 12.9-megawatt hours (MWh) of BESS that had been supplied by top tier manufacturers.
According to Alternergy and Solar Pacific Chairman Vincent S. Perez, the project is already at 65-percent complete, making it on track for the April 2023 commercial operation’s target.
Alternergy expounded that its solar-plus BESS project, under corporate vehicle Solar Pacific Pristine Power, Inc. (SPPP), has been its investment launching pad in the international RE market. SPPP is a subsidiary of the company’s Solar Pacific business unit.
Mike Lichtenfeld, chief executive officer of Solar Pacific noted that the Palau project, is underpinned by a two-decade long term power supply agreement (PSA) with the Palau Public Utilities Corporation (PPUC) and had likewise been backed by a $22 million project financing from Australian Infrastructure Financing Facility for the Pacific (AIFFP).
Perez narrated that “Alternergy and Solar Pacific saw the opportunity to explore the electricity market outside the Philippines…the opportunity to provide renewable power to the Republic of Palau, one of our neighboring Pacific island nations, is consistent with our vision to powering the islands with renewable energy resources.”
Upon its completion, the Palau project would be providing up to 23,000-megawatt hours of renewable energy-produced power supply to Palau – and that shall account for more than 20 percent of its annual energy demand.
Lichtenfeld specified that the Palau hybrid project is “one of the biggest direct foreign investments in Palau with a project cost of $29 million and is generating local employment and tax revenues to the country.”
Alternergy is a pioneer RE project-developer in the Philippines, with investments across RE technologies – including solar, wind, hydro and is also advancing interest in the offshore wind farm development.
The company had cast up to 1,400MW of capacity installations that it will concretize in the next five years so it can meaningfully contribute to the “energy transition agenda” being pursued by the Philippine government.
