The state-run Bases Conversion and Development Authority signed Wednesday a lease agreement with Sunray Power Inc. to build a 100-megawatt solar power plant costing P11.75 billion on a 260-hectare area in Clark Green City.
“We look forward to the long-standing partnership with SPI to provide clean and renewable energy not only to Clark Green City but also to the neighboring areas in Central Luzon,” said BCDA president and chief executive Arnel Paciano Casanova.
SPI under the agreement committed to invest $250 million, or roughly P11.75 billion, within two years.
BCDA will receive annual lease payments and shares in the revenues of generated power within the 25-year lease period, which is renewable for another 25 years.
SPI also committed to employ 1,000 workers during the construction period and at least 250 workers during operations.
SPI is a Philippine company formed to develop, construct and own utility-scale power generating facilities for the production, generation, sale and storage of electricity harnessed from renewable energy sources such as solar, wind and waste-to-energy technology.
It is owned by US-based investors led by president Larry Asera.
Casanova said renewable energy facilities such as the solar farm would lead to the establishment of technology development centers focusing on green and smart technology. As part of the agreement, BCDA and SPI will invest to train young Filipinos to be abreast in the latest developments in green and smart technology in line with its corporate social responsibility program.
He said the use of renewable energy such as solar power to energize Clark Green City showed BCDA’s commitment to address the effects of climate change and global warming.
The BCDA earlier signed a similar lease agreement with SSR C-Solar Power Inc. to develop a P1-billion solar project as an alternative source of energy for the master planned Clark Green City.
The lease agreement is renewable for another 25 years where SSR C-Solar will use the leased property to develop its solar-photovoltaic power generation and operations.
The initial number of panels to be installed in the 25-hectare leased property will generate 20 megawatts or 20,000 kilowatts and is expected to supply electricity to at least 10,000 households.
The entire Clark Green City is a 9,450-hectare master planned property within the Clark Special Economic Zone in the province of Tarlac, Philippines and is envisioned to be the first smart, disaster-resilient and green city in the Philippines.
At full development, Clark Green City will have some 1.12 million residents, 800,000 workers and contribute a gross output of approximately P1.57 trillion a year to the national economy, or roughly a four percent share in the county’s gross domestic product.
