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11

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2012

LG to set up $180M Solar Plant in the Philippines

The provincial government of Cavite and a South Korean business corporation have signed a Memorandum of Understanding (MOU) on a plan to set up a $180-million photovoltaic (PV) solar power plant in the municipality of Tanza.

The solar energy plant, proposed to be completed in the coastal town in 2014, is the first of its kind in Cavite, and deemed one of the country’s biggest photovoltaic projects.

Cavite Governor Jonvic Remulla and LG CNS Co., Ltd. Vice President Ji Seob Kim led the MOU signing at a golf and country club here on Friday.

 

The MOU signing was made possible after concerned sectors, including the Sangguniang Panglalawigan, approved the operation of the solar energy plant in the province, citing its benefits in terms of health, environment protection, and employment generation.

 

The photovoltaic project is expected to energize homes, offices, and factories, among others, with the use of sun-powered panels or equipment.

 

The power plant is also expected to prevent air and noise pollution, including health hazards, and generate savings on electrical consumption.

 

The proposed photovoltaic project to be located in Tanza is considered to provide electricity to the consumers in the area.

As this developed, the South Korean executives said the construction work on the proposed plant, estimated to cost between $150 and 180 million, is due to start within 12 months.

 

It was learned that the LG CNS Co., Ltd. would finance the plant’s construction cost and operation, and provide the necessary training for technical workers and laborers, among others.

As specified under the MoU, the provincial government of Cavite would provide the firm with the information, assistance, and cooperation that are needed for the development and implementation of the project.

 

When asked why the Korean company preferred Cavite as the site of the photovoltaic project, one of the executives said that “the area has a good climate, sunlight, and surroundings.”

On the other hand, Remulla said the proposed power plant in Cavite is included under the modernization program of his administration.

 

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