The Energy Department granted Roxas Green Energy Corp. a renewable energy service contract for a 50-megawatt solar power plant in Nasugbu, Batangas.
The department, following its mandate to explore and promote the development of renewal energy, recently signed a service contract with Roxas on the project.
Roxas Green Energy, a 100-percent owned subsidiary of Roxas & Co. Inc., said it planned to operate the facility by the first quarter of 2016 to meet the feed-in tariff deadline.
The project is being developed within the 2,000-hectare Roxas property in Nasugbu, Batangas.
Roxas & Co. earlier said the first phase with 30 MW with a projected cost of P1.7 billion, was scheduled to come online in the third quarter.
The company tapped the services of Poyry Energy, Inc., a engineering and consulting company from Finland, for the engineering, design, procurement and construction management.
Roxas & Co. has expanded its different business ventures in recent years.
Roxas & Co. chairman, president and chief executive Pedro Roxas said the group needed to act fast to keep up with the changing demands of the times.
“We are always on the lookout for opportunities, and we need to act decisively for us to address and help alleviate the rising demands that come with the globalization of the economy,” Roxas said.
Roxas & Co. also continues to expect strong prospects for Roxas Holdings Inc., the country’s largest integrated producer of sugar and ethanol, as it continues to scout for additional acquisition opportunities.
Roxas Holdings recently acquired San Carlos Bioenergy Inc., the first integrated, sugarcane-based, fuel bioethanol distillery and power co-generation facility in Southeast Asia.
This is in addition to Roxas Holdings’s existing successful subsidiaries Central Azucarera Don Pedro Inc.m Central Azucarera de la Carlota Inc., Roxol Bioenergy Inc. and Hawaiian-Philippine Company Inc.