Property developer JEG Development Corp. tapped Vivant COREnergy Inc. for a 37k kilowatt-peak rooftop solar installation on the 22-story JEG Tower @ One Acacia in Cebu City.
COREnergy installed the solar rooftop project of JEG Tower through a innovative financing solution.
“The model that we have for this facility per se is that we are selling energy to JEG Tower and we’re under an arrangement that allows them to have no capital outlay for the solar PV system which is what we’re also pushing for the other facilities nationwide,” COREnergy general manager and chief operating officer Kevin Lamela said.
The JEG Tower grid-tied solar project is expected to produce 77 megawatt-hours of energy annually, while avoiding 30 metric tons of carbon dioxide emission.
“That’s what makes it attractive for us as developers. We don’t put any CAPEX into the facility so it’s actually COREnergy that builds the plant for us, and we’re just buying power from them at a much cheaper rate than the utility provider is charging us. No capex for us on our side,” JEG general manager Tomas Tan said.
The JEG Tower @ One Acacia utilizes 93 units of 405 watts-peak Canadian solar PV modules and 27-kW SolarEdge grid-tied inverter.
The PV system is designed to offset the electricity consumed from the grid by converting the available solar energy to serve daytime energy demand.