AboitizPower and Sunedison sign financing for 59 MW solar farm in Negros Occidental

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
AboitizPower and Sunedison sign financing for 59 MW solar farm in Negros Occidental

The joint venture of AboitizPower and SunEdison Philippines Helios BV, a subisidary of SunEdison, has secured a P3.7-billion loan (US$78.5 million) from BDO Unibank Inc. for the construction of its 59 MW solar project in Negros Occidental, Philippines.

The proceeds of the loan will be used to finance the construction, development, and operation of the 59 MWp solar photovoltaic power generation facility located at San Carlos City, Negros Occidental.

Sacasun, the joint venture between SunEdison and Aboitiz Renewables Inc., will be the first joint solar power project since both companies struck a deal in November 2014 to develop up to 300 MW of utility-scale solar photovoltaic power generation projects in the Philippines over the next three years.

Nari Group Corp. will be the engineering, procurement and construction (EPC) contractor.

The Negros solar energy project is set for commercial operations in the first quarter of 2016.

List of country news

Country news

  • December 04, 2015

    Sun Life’s Philippine unit to invest in Mindanao power plant

    Canadian insurance firm Sun Life Financial Inc. has given its Philippine unit the go-ahead to invest in a power project in Mindanao, in what would be its first local investment in infrastructure. Read more
  • October 29, 2015

    Philippines approves 50 MW solar project

    The Philippine Department of Energy (DOE) has given the green light to Roxas & Company (RCI) to develop a 50-MW solar project in the province of Batangas. Read more
  • October 09, 2015

    MMA Energy Capital adds key staff to support business expansion

    MMA Capital Management, LLC, a Delaware limited liability company, recently announced that its subsidiary, MMA Energy Capital, LLC, has added two key industry employees to support its renewable energy financing activities including the debt financing platform offered by MMA Energy Capital. Read more
  • October 09, 2015

    Conergy to build 18 MW Solar Plant for Monte Solar Energy Inc.

    Conergy has announced it has been recently awarded a new contract by Monte Solar Energy Inc. a joint venture between Ayala Corporation’s AC Energy Holdings Inc. and Bronzeoak Philippines Inc. to build an 18-megawatt (MWp) solar power plant in Bais, Negros Oriental. Read more
  • October 07, 2015

    PetroEnergy Resources Corp gets approvals for two clean projects

    Philippines-based PetroEnergy Resources Corporation (PERC) announced last week that it has been granted the Certificate of Confirmation of Commerciality (CoCoC) by the Department of Energy (DOE) for two renewable-energy projects. Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.