As the Philippines accelerates the realization of the green energy goal, two more solar projects will be constructed by a Chinese firm in Luzon.
In a news release Wednesday, China Energy Engineering Group Co., Ltd. (Energy China) said it signed eight cooperation deals, including general contract projects for a 304-megawatt solar power plant in Bolo, Labrador in Pangasinan and 49.50-MW Shizen Palauig Solar PV (photovoltaic) project in Zambales, during the Belt and Road CEO Conference in Beijing on Oct. 17.
“Agreements for 30 other projects, with a total value exceeding USD10 billion, were also signed at the event. These projects span 20 countries, including Uzbekistan, the United Arab Emirates, the Philippines, Greece, Russia and Saudi Arabia,” it announced.
The projects cover various industries such as solar power stations, wind power, energy storage, gas power plants, power transmission and transformation, data centers, real estate construction, highways, natural gas, and chemical engineering.
As one of the world’s leading energy and power solution providers, Energy China has established itself as an important participant, advocate and beneficiary of the Belt and Road Initiative (BRI).
In the last five years, it signed deals with other partners from BRI member countries, including the Philippines, that have a total value of over RMB500 billion (PHP3.8 trillion).
Energy China has invested in designed and constructed many new “green” landmarks that have improved people’s lives in the community, aiming at promoting high-quality BRI cooperation.
Chen Jiping, general manager of Energy China’s subsidiary China Power Engineering Consulting Group Co., earlier said the Philippines has a massive potential in renewable energy (RE).
“The Philippines is rich in wind and solar energy resources, the massive potential of which is to be unlocked,” Chen said in an RE forum held in Manila on Sept. 26.
In his second State of the Nation Address last July 24, President Ferdinand R. Marcos Jr. said the government is aggressively promoting RE with the goal of providing a 35 percent share in the power mix by 2030 and 50 percent by 2040. (PNA)