APECO and China’s Huge Energy signed a memorandum of understanding in Quezon City on Wednesday, Sept. 23, for the proposed project, which will include renewable power generation, a high-capacity substation and a battery energy storage system (BESS).
The project is planned in three phases, starting with about 100 megawatts (MW) of solar photovoltaic capacity, BESS and a substation.
Three phases
Under the second phase, Huge Energy plans to add 350 MW of generation capacity through a combination of solar and waste-to-energy technologies. Another 550 MW is targeted for the third phase, bringing the project's planned aggregate capacity to 1 GW.
APECO is allocating 90 hectares of land for the development.
The agreement was signed by APECO president and CEO Gil G. Taway IV, Huge Energy chair and CEO Lai Hongze, and Dong-A Global chair and CEO Ik Soo Kwon.
“Power precedes progress. Before industries can operate, businesses can expand, and investments can come in, we need reliable and sustainable power,” Taway said.
He said the project was intended to accelerate the development of critical energy infrastructure within APECO, including substations and potentially transmission facilities.
The additional infrastructure could help improve the availability and affordability of electricity within the ecozone and contribute to energy security in Aurora and the rest of the country, according to APECO.
Industrial push
“The goal is to create a more competitive environment for investors, attract new industries and ultimately support APECO’s transition toward industrialization and manufacturing,” Taway said.
The partnership will cover project planning and engineering, feasibility studies, permitting and government approvals, grid interconnection and power offtake arrangements.
It will also cover project financing, equipment procurement, engineering, procurement and construction, as well as eventual operations and maintenance.
Each phase will still undergo technical and financial feasibility studies, due diligence and assessments of grid requirements, and will be subject to applicable government approvals.
Huge Energy, a solar panel manufacturer, will undertake the project with South Korean engineering, procurement and construction firm Dong-A Global Co. Ltd. —Ed: Corrie S. Narisma
