Raos solar project will lower bill — exec

Raos solar project will lower bill — exec | Daily Tribune

Raos Energy Philippines Inc. (Raos) will pour in P3 billion for the proposed 65-megawatt peak (MWp) solar farm in San Pablo, Isabela through subsidiary Solar Valley Energy Solutions Inc. (SVESI) to generate affordable electricity.

“The investment is primarily comprised of the equipment and construction cost, including insurance and various overhead expenses,” Raos president Archie Rodriguez told Daily Tribune.

Rodriguez said the project, which will be operational by November 2025, is expected to generate over 1,000 jobs with employees all sourced from surrounding communities.

The project won the bid under the second round of the Department of Energy’s (DoE) Green Energy Auction Program (GEAP) allowing SVESI to enter into a Renewable Energy Payment Agreement (REPA) with the National Transmission Corporation (Transco) and sell electricity at a fixed tariff of P4.1998 per kilowatt hour (/kWh).

Push for RE

Rodriguez said that compared to the average tariff awarded during GEA-2 for ground-mounted solar projects of P4.3059/kWh, the bid won by the project is slightly lower at P4.1998/kWh.

The construction of the solar farm also furthers the Department of Energy’s goals of achieving a 35 percent renewable energy share in the national power generation mix by 2030 and 50 percent by 2040.

“The DoE shared details regarding the GEAP prior to the auction date and is very supportive of developers before, during, and after the auction. The primary challenge is preparing all the necessary supporting documents to qualify, otherwise, the process is fairly straightforward,” Rodriguez added.

Rodriguez expressed confidence that the project’s timetable will be met.

“With steadfast commitment, perseverance, and determination challenges can be overcome. Community and stakeholder involvement is key,” according to Rodriguez.

He added: “For as long as we keep our common objectives in sight, we can work together to hurdle challenges along the way. SVESI is a testament to that.”

As its first renewable energy project, the start of construction of SVESI marks a significant step for Raeos, a joint venture between Tech Energie Reserves Inc. (“TERI”) and Alba Renewables Pte. Ltd. (“Alba”).

While the initial 65 MWp of capacity is set for construction, plans are already in place to expand the solar farm to a total capacity of 169 MWp, following the successful bid for an additional 104 MWp in the 2nd round of GEAP.