South Korean company gets Philippine approval for solar project

US$55 million project is in Ilocos Norte province.

The Department of Energy has issued a certificate of commerciality to Mirae Asia Energy Corporation for its solar project Ilocos Norte, a province in northern Luzon.

Mirae can now proceed with the construction of its 20 MW solar project on 60 hectares in the town of Currimao. Full commercial operations are slated for late 2014 with construction to begin in nine to 12 months from now.

Mirae Asia is in talks with the National Grid Corporation of the Philippines, the country’s transmission highway operator, for the transmission service agreement and connection agreement.

Mirae hopes to avail of incentives under the Feed-in-Tariff (FIT) system of US$0.22 per kilowatt hour.