Singapore, 10 February 2016 – Equis Pte. Ltd. (Equis), Asia’s largest independent renewable energy developer and investor, yesterday inaugurated a new 20‐megawatt (MW) solar project in Currimao, Ilocos Norte Province, the Philippines (Currimao Project) and is now supplying clean energy into the Luzon grid.
The Currimao Project was developed by Mirae Asia Energy Corporation (a joint venture between San Lorenzo Ruiz Builders and Developers Group, Inc. and Soleq) and is the 23rd renewable energy project Equis has commissioned in the last three (3) years, with another 61 projects under development and construction. Soleq is one of South‐East Asia’s largest independent solar utility generation platforms and an Equis investee company.
The Currimao Project brings Equis’ operating renewable energy portfolio in the Philippines to three (3) projects comprising 104 MW, following the 2015 completion of a 30 MW solar project in Leyte and a 54 MW wind project in Rizal.
David Russell, CEO at Equis, stated, “As the market leader, Equis has a responsibility to migrate into Asia through our projects, industry best technology, construction and operations expertise. As the Philippines and the rest of Asia continue to increase the renewable energy share of each market’s power supply, Equis will be increasing its investment into local markets ensuring cost effective renewable energy for future generations.”
The Currimao Project:
- is eligible for the Philippine government’s feed‐in tariff program, a scheme that requires the power sector to source electricity from renewable energy generation at an agreed tariff;
- will supply the electricity needs of 29,328 homes in the Ilocos Norte Province with 33,000 MWh of renewable energy;
- will save an estimated 31.2 million litres of water and 16,566 tonnes of greenhouse gas (GHG) emissions (the equivalent of approximately 3,500 cars) per annum; and
- has created additional employment opportunities in the local and surrounding areas.
With over 100 professionals employed in Manila, Equis will continue to support the Philippines’ renewable energy industry with additional projects scheduled for commissioning in 2016.