Fort Pilar Energy buys Davao del Sur solar plant for P1.5b
By Alena Mae S. Flores – September 07, 2021 at 07:45 pm
from manilastandard.net
Fort Pilar Energy Inc., a company owned by the family of Rep. Mikee Romero, acquired Alterpower Digos Solar Inc. which owns a 28.59-megawatt solar plant in Davao del Sur for P1.5 billion.
Fort Pilar acquired the solar plant from the joint venture of Hanwha Global Asset Corp. and Alterpower Specialist Inc. The solar plant has been operating since March 2016.
“Our acquisition of ADSI signals our company’s pivot to the power industry. While we remain committed to our legacy businesses in infrastructure and transportation, we believe that our company’s shift to the energy industry is a logical transition given our track record in building successful enterprises in challenging industries,” Fort Pilar chairperson Sheila Romero said in a statement.
Fort Pilar plans to increase plant capacity to 40 MW to reach its full capacity under its solar service contract and is allocating P500 million to finance the expansion.
“Our investment in a solar power plant in Mindanao reflects our firm belief that the growth of the Philippines lies in the development of our rural areas,” Romero said.
Expansion plans include the upgrade of its electrical systems, acquiring more powerful photovoltaic cells and increasing its footprint in the Digos area.
The company said the location of the Digos Solar Power Plant is a prime area for solar irradiation. The power plant produces irradiation of 1,872.4 kilowatt-hours per square meter.
It harnesses UV rays from the sun through 92,232 polycrystalline PV Modules. The plant produces up to 43 million kwh annually.
Fort Pilar is also building a battery energy storage system in Zamboanga city. The battery site is set to be commissioned by February 2022.
1 Comment
January 31, 2022
ALTERPOWER DIGOS SOLAR, INC.
Zamboanga City, Mindanao,
Philippines
Dear Sir /Madam.
Greetings!
I have been trying to locate the business address of Alterpower Digos Solar Inc. thru the internet. But all my efforts to locate such contact business address details of your company went into futility.
The purpose of writing to you this letter is that I would like to send formal letter to the President and Owner of the said Corporation more particularly to the Honorable Congressman Mike Romero.
Brief summary to give you a glimpse on my main reason is that I would like send my Formal Letter Offer to the President of the Corporation to the Honorable Congressman Mike Romero. I would like to ask him if the Corporation would like to and/or interested to enter into Commercial and Business Foreign Loan from Europe.
My contact thru the Principal Funder – Lender’s Trustee has just made a confirmation today, and gave a GO SIGNAL to initiate to send correspondence to Philippine Private Corporation that are currently in business of Electric Power Supply Generation and Distribution.
My Principal Funder – Lender is Ready Willing and Able to provide Foreign Loan in the amount of between US $ 2.5 to 3.0 Billion Dollars in United States Currency.
May this humble representation be given your precious time and favor to kindly pass this letter message to the Honorable Congressman Mike Romero. And please revert to me should the Honorable Congressman Mike Romero would be interested on this business offering.
Thank you, in advance, as I look forward to your valued reply regarding this matter. I can be reach to my private mobile number 0977 – 342 – 4241 (Globe). My email address is jimmy_isidro2003@yahoo.com
Thank you and God bless.
Sincerely yours,
JIMMY A. ISIDRO
Manila, Philippines