South Korean firm to build Philippines’ largest solar power plant
Plant will power towns in Ilocos Norte province.
South Korean firm, EC Cobuy Philippines, Inc, has signed a memorandum of understanding with officials from two towns in Ilocos Norte to build 20 MW solar power plants that will augment the electric power supply for the province.
Officials from the towns of Badoc and Vintar signed the deal with EC Cobuy. Badoc town Vice Mayor Thomas Torralba and Stephen Chae, CEO and Vice President of EC Cobuy, signed the MOU in at the Badoc town hall witnessed by local officials and town employees.
EC Cobuy will invest at least US$70 million to build the solar power plant in Ilocos Norte. Chae said the amount is the initial investment of his company for the installation of materials and equipment.
He said some 13,000 solar panels are initially planned to be used for the construction of the solar power plant within the 60 to 70 hectares of land in Badoc and Vintar. The power plant is expected to generate more than 20 megawatts of electricity.
He claimed the plant is the first of its kind and is considered biggest solar plant project to be installed in the Philippines.