A Chinese company has expressed interest in setting up a massive solar power project in Philippines.
According to media reports, an unnamed Chinese firm plans to set up 200 megawatts solar power project in the Samar province of Philippines. Officials from the Chinese company are expected to visit the south-east Asian country soon to finalise plans about the project.
Government representatives and officials of local power company have pledged to help the country get regulatory approvals and land lease agreement. After getting all these approvals the company expects to start construction this year.
The planned 200 megawatts solar power project is expected to boost energy self-sufficiency for the Samar province which is overwhelmingly dependent on geothermal power. The project is also expected to help reduce cost of electricity in the province.
Over the last few months several project developers have expressed interest in setting up large-scale solar power project in Philippines. After the Renewable Energy Law was approved in 2008 a surge in renewable energy capacity addition was seen in the Philippines. The government had announced a feed-in tariff scheme wherein projects were offered ¢0.21 per kWh. The tariff scheme attracted overwhelming response from project developers, forcing the government to expand the capacity under the program from 50 megawatt to 500 megawatt.