Renewable energy firm Alternergy Holdings Corp. has started commercial operations of its solar and battery energy storage system in Palau.
The 15.3 megawatt (MW) solar component and 12.9 megawatt hour (MWh) the battery segment is one of the biggest foreign direct investments in Palau with a total project cost of $29 million (P1.62 billion).
The hybrid RE facility is owned and developed by Solar Pacific Pristine Power Inc., a subsidiary of Solar Pacific Energy Corp. that in turn is a subsidiary of Alternergy.
“We are pleased that the project will make a significant contribution to Palau in achieving its goal of 45 percent renewable energy in its power generation by 2025, provide 23,000 MWh of clean and renewable power as well avoid more than 10 thousand tons of carbon emissions per year,” said Vicente Perez Jr., Alternergy chairman.
Last month, Alternergy awarded the engineering, procurement and construction contract of the 20 MW Solana solar power project in Hermosa, Bataan to JGC Philippines, Inc., a subsidiary of Japan’s JGC Group.
Perez had said proceeds from the company’s recent public listing enabled the company to pay the full price of the project site which is only 500 meters from its interconnection point at the National Grid Corporation of the Philippines’ Hermosa substation.
Altenergy is eyeing to build up to 350 MW worth of power projects in the next three to five years broken down into 33 MW for solar, 220 MW for onshore wind and 50 MW for run-of-river hydro projects.
Alternergy has an ongoing partnership with Shell Overseas Investment B.V. pursuing offshore wind projects in the Philippines.
