Korean Firm to Build Solar Power Projects in the Philippines

26 January 2011 (Last Updated January 26th, 2011 18:30)

Youil Ensys subsidiary Youil Renewable Energy Corporation will invest around $160m to construct two solar projects in the Philippines. The solar projects comprise a 30MW facility near Bacolod City and a 10MW solar station in Bohol. Youil Ensys chief executive Scott Kim told the

Youil Ensys subsidiary Youil Renewable Energy Corporation will invest around $160m to construct two solar projects in the Philippines.

The solar projects comprise a 30MW facility near Bacolod City and a 10MW solar station in Bohol.

Youil Ensys chief executive Scott Kim told the Manila Standard Today that construction will start once the government approves the feed-in tariff (FIT) on non-renewable energy projects.

The FIT policy offers guaranteed payments per kilowatt-hour to each renewable energy source.

Once approved, the project will take six months for construction to start.