ET Solar is expanding operations to the Philippines, where the Chinese company is building its first utility-scale PV plant with local renewable energy developer Gate Solar Philippines Corp.
ET Solar and Gate Solar will develop, invest, finance, construct and operate the 70 MW project. The companies expect to begin construction in the fourth quarter of the year, with commercial operation expected to begin in March 2016. ET Solar will serve as co-development partner and technology provider as well as investor in the project.
The installation is ET Solars latest large-scale project in Asia but its first in the Philippines, noted ET Solar President and CEO Dennis She. It demonstrates our ability to handle every aspect of utility-scale solar plants, from planning and financing through construction and all the way downstream to O&M. With our integrated capabilities and global experience, we are able to achieve the lowest possible LCOE.
She added that the company not only competed against other players for the contract but also raced against time to be eligible for the highest tariff rate.
Once again, our ability to integrate all the required resources and move faster than other companies got us to the finish line first," She said.
ET Solars entry into the Philippine market follows its recent expansion into Israel, where the company is likewise building its first plant in the country, a 50 MW facility near the ancient port city of Ashkelon.