ThomasLloyd extends its Philippine solar capacity by another 41 MW

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ThomasLloyd extends its Philippine solar capacity by another 41 MW

San Carlos Solar Energy Inc., a subsidiary of ThomasLloyd Cleantech Infrastructure Fund, has mandated Conergy Asia & Middle East as general contractor for three more solar power stations on the island of Negros, in the Philippines.

These three new facilities will add a total of 41 MW of solar capacity to the Visayas grid after its completion in June of next year. ThomasLloyd, the investment banking and investment management group specialising in renewable energies in Asia has the largest portfolio of renewable energy projects in the Philippines with a total of 14 power plants.

The first two new solar power plants SaCaSol I C & D, an extension of SaCaSol I A & B, will have an installed capacity of 23 MW and will generate over 34,300 MW hours per year, enough electricity to power 14,300 local homes. The facility will save about 21,033 tons of carbon (CO2) emissions and will lie on a 324,214 square metre plot, adjacent to SaCaSol I A & B in San Carlos City.

The third new solar power plant, SaCaSol II A, will be situated in Barangay Cubay, La Carlota City. It will have an installed capacity of 18 MW and will feed approximately 26,529 MW hours of clean electricity into the local grid annually, which is comparable to the power requirement of over 11,000 households. This plant will reduce carbon (CO2) emissions by over 16,200 tons per year and will cover a total area of around 244,260 square meters. This will be followed in 2015 by further 14 MW, SaCaSol II B, in the same location.

T.U. Michael Sieg, Chairman and CEO of the ThomasLloyd Group, explains:

“We’re very pleased to be able to extend our commitment to more energy security and therefore to improving the living conditions of people on the Visayas.”

Tony Coveney, Head of Project Finance at the ThomasLloyd Group, adds:

“Apart from the beneficial climate conditions, we value the stable political and economic conditions found in the Philippines. This is further endorsed by the international rating agencies of Moody´s, S&P and Fitch, all of who rate the country as investment grade.”

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