Aboitiz Power Corporation (AboitizPower), through PV Sinag Power, Inc., a special purpose vehicle of its subsidiary, Aboitiz Renewables, Inc. (ARI), recently entered into Engineering, Procurement and Construction (EPC) agreements for its 159-MWp Laoag and Laoag 2 solar power project in Barangay Laoag, Aguilar, Pangasinan.
The EPC contracts were awarded to SUMEC Complete Equipment and Engineering Co., Ltd. (SUMEC Engineering) and Hansei Corporation for DC and AC, respectively. SUMEC specializes in EPC contracting for both international and domestic markets, while Hansei Corporation is a Philippine-based EPC and Operation and Maintenance (O&M) company and contractor for electric power transmission, distribution and substation utilities services that support the global initiatives towards renewable energy.
The said project will be AboitizPower’s second solar venture in the province, following the Cayanga Solar power plant in the town of Bugallon, and is targeted for commercial operations by June 2023.
Majority of the plant’s output is already contracted for 20 years to a leading retail company in the Philippines. Once completed, the project is expected to generate approximately 261 GWh of clean energy annually, equivalent to the yearly power consumption of around 100,000 average Filipino households.
ARI Executive Director David J. Smith shared, “Here at ARI, we are excited for this incredible journey ahead with our second solar project in Pangasinan. It marks another significant milestone of our increasing renewable energy portfolio in support of the country’s energy transition to more environmentally sustainable sources.”
“This project is proof that AboitizPower is well underway in terms of our renewable energy growth ambitions. We look forward to its completion so we can continue to serve our country’s growing needs with zero-emissions renewable energy, and contribute to achieving a sustainable energy transition,” said AboitizPower President and Chief Executive Officer Emmanuel V. Rubio.
DISCLAIMER: This disclosure may contain forward-looking statements that are subject to risk factors and opportunities that may affect the implementation of the project subject of this disclosure. The forward-looking statements contained in this disclosure are based upon what management of the Company believes are reasonable assumptions at the date of this disclosure. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
