Rizal Solar PV Park is an 115MW solar PV power project. It is planned in Calabarzon, Philippines. According to GlobalData, who tracks and profiles over 170,000 power plants worldwide, the project is currently at the under construction stage. It will be developed in a single phase. The project construction is likely to commence in 2021 and is expected to enter into commercial operation in 2023. Buy the profile here.
The project is being developed and currently owned by Global Business Power and Mitsui. The company's ownership stake in the project stands as 60% and 40% respectively.
Rizal Solar PV Park is a ground-mounted solar project which is planned over 135 hectares.
The project cost is expected to be around $64.4m.
The project construction is expected to commence from 2021. Subsequent to that it will enter into commercial operation by 2023.
Power purchase agreement
The power generated from the project will be sold to Manila Electric under a power purchase agreement for a period of 20 years.
China Energy Engineering and Solenergy Systems are expected to render engineering procurement construction services for the solar PV power project.
For more details on Rizal Solar PV Park, buy the profile here.
About Global Business Power
Global Business Power Corp (GBPC), formerly Mirant Global Corp, a subsidiary of ORIX Corp, is an energy utility that generates and distributes electricity. The utility produces reliable and cost-efficient power supply through its subsidiaries that operate power generation facilities. Its services include assistance to retail competition and open access regime, assistance in securing replacement power from affiliate companies, technical training of personnel for RCOA readiness, and expansion projects in Iloilo and Negros Occidenta. GBPC offers flexible energy solutions that can serve the varying power requirements of the market. The company owns and operates diesel fuel and coal power plants. Its power plants comprise Toledo Power Company, GBH Power Resources Inc, Panay Power Corp, and Panay Energy Development Corp. GBPC is headquartered in Makati, the Philippines.
Mitsui & Co Ltd (Mitsui) is a business conglomerate. It distributes, purchases, markets and supplies wide variety of products in business areas including iron and steel; non-ferrous metals; machinery; electronics; chemicals; energy-related commodities; foods & retail, lifestyle, and consumer service. The company also participates in the other activities such as arranging finance for customers and suppliers in connection with its trading activities, organizing and coordinating international industrial projects, participating in financing, and investing arrangements, assisting in the procurement of raw materials and equipment, providing new technologies and processes for manufacturing and coordinating transportation and marketing of finished goods. It operates in the Americas, EMEA, and Asia-Pacific. Mitsui is headquartered in Tokyo, Japan