Future location of Solar Philippines' solar ranch in Tarlac. (File photo courtesy of Solar Philippines)
MANILA – Filipino businessman Enrique Razon Jr.’s Prime Infrastructure Holdings Inc. has invested another PHP2 billion in Solar Philippines Power Project Holdings Inc. that targets to establish more solar power plants in the country.
In a statement Monday, Prime Infra said its fresh investments in Solar Philippines came from the acquisition of a 50-percent share in Solar Philippines Tanauan Corp.
This is the second investment of Razon’s firm in Solar Philippines, bringing its total investments to the energy firm to PHP3.5 billion.
Prime Infra invested in Solar Philippines Tarlac Corp. last year.
“Both investments combined will result in over 340 megawatts of solar projects located in Concepcion, Tarlac, Tanauan, Batangas and Maragondon, Cavite. The three projects will create over 2,000 jobs during construction and over 100 jobs during operations,” the Prime Infra statement read.
Once completed, these projects will energize over 200,000 homes.
With the use of clean energy, the solar power projects are equivalent to displacement of over 240,000 tons of coal per year or 6 million tons of coal for its 25-year economic life. (PNA)
