Harbor Star to acquire up to 75 MW solar in the Philippines

Share

A 25 MW PV array will be built in General Santos, on the island of Mindanao, by the second quarter of 2018, according to a statement by Harbor Star Shipping Services to the Philippine Stock Exchange. There is an option to scale the project up to 75 MW, the company said, without revealing any additional details about the planned installation. 

As part of the deal, Harbor Star Energy — a wholly owned unit of Harbor Star Shipping Services — will acquire a 60% stake in Astronergy Development Gensan (ADGI). Harbor Star Energy has agreed to buy a 45% stake in ADGI from shareholders, in addition to a $6.3 million primary share subscription, bringing the total acquisition to 60%.

ADGI holds the rights to operate 25 MW of solar in General Santos, with an option to scale that up to 75 MW, according to the statement. The Department of Energy has issued ADGI a Certificate of Commerciality, along with a government-approved PPA with South Cotobato II Electric Cooperative.