Cavite University inks P2 billion solar power deal
MANILA, Philippines — To help strengthen power supply in communities as well as support local economic growth and job creation, the Cavite State University (CvSU) has entered into a P2-billion agreement with the Philko Group of Companies for the installation of solar power systems in 13 campuses.
The project, implemented through public-private partnership, aims to lower CvSU’s electricity-related operating costs, earn revenue from excess power sold to the national grid and receive a share of carbon credit income.
The added baseload capacity also contributes to the country’s target of a 35-percent green energy mix, in line with the Paris Agreement and Kyoto Protocol goals for 2030.
Agnes Nuestro, CvSU president, signed the contract as part of a project initiated by presidential adviser for poverty alleviation Larry Gadon.
The initiative forms part of a broader solar power program, which also covers hospitals under the Department of Health.
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