Filinvest investing P500 million for solar plant

MANILA, Philippines — The Filinvest Group of the Gotianun family is investing at least P500 million to develop an 11.5-megawatt peak solar power project to provide locators in PHIVIDEC Industrial Estate in Misamis Oriental with renewable energy.

The solar project, at one of the country’s major economic zones, will be undertaken by FDC Green Energy Corp. (FDCGEC), a wholly owned subsidiary of FDC Utilities Inc., which serves as the utility arm of the Filinvest Development Corp.

FDCGEC president and CEO Juan Eugenio Roxas said Filinvest was awarded by the Department of Energy a solar energy operating contract to develop an 11.5-MWp solar power project within the PHIVIDEC Industrial Estate that can operate for 25 years.

“Filinvest will earmark over half a billion pesos for this investment,” Roxas said.

The solar project involves the installation of more than 20,000 monocrystalline solar panels that will produce almost 17,000 megawatt hours of clean energy annually.

It will generate more than 200 jobs during construction and maintenance.

Filinvest said the project has several advantages for PHIVIDEC locators and the surrounding community with an estimated carbon dioxide savings of more than 11,000 tons annually.

The project is expected to help reduce the environmental impact of industrial operations in the area, while providing a sustainable and cost-effective energy solution.

Apart from environmental benefits, it also enhances the reputation of PHIVIDEC as an eco-responsible industrial hub, Filinvest said.

“With this project, PHIVIDEC Industrial Estate in Misamis Oriental can attract more locators actively seeking alternative energy sources to reduce greenhouse gas emissions,” Roxas said.

FDCGEC formally registered as a PHIVIDEC locator to kickstart the project’s permitting process.

PHIVIDEC, located in the Northern Mindanao region, is home to numerous manufacturing and industrial companies that contribute significantly to the country’s economy.

The solar power project is the first of the many utility-scale solar projects of Filinvest in the region.

In its pipeline are 11-MW Cotabato solar and 30-MW GenSan solar projects.

“Filinvest is ready to take on the challenge of providing more power. Our company is committed to pursuing solar power projects in the region. We’re ready to invest more to take a step toward a greener and more prosperous future for both business and the environment,” Roxas said.