Lopez-led First Gen Corp. is allocating an estimated $20 million to $25 million this year for the first phase of development of its 50-megawatt Inara solar power project in Batangas City.
Emmanuel Antonio Singson, First Gen executive vice president, chief finance officer and treasurer, said the company has begun the permitting process for the solar project.
“And this year, we’re doing the permits. Hopefully, we are able to spend about $20 to $25 million for the ongoing project,” Singson said.
First Gen President Francis Giles Puno said they hope to break ground for the solar project this year, with another 100 MW expansion on the horizon.
“This 150 MW solar facility will allow us to provide renewable energy supply to Batelec (Batangas Electric Cooperative) and the adjacently located First Philippine Industrial Park with over 150 world-class locators,” Puno said.
Puno noted the company’s recent focus has been on geothermal projects because they can run as baseload supply, producing more kilowatt hours hourly.
“The solar and wind, because it’s so small, we have to increase our investment in solar and wind just to be at the same level of electricity production as a geothermal plant,” Puno said. “So that’s the reason why this year we’re setting up our first larger solar scale project, 50 (MW) first phase, hopefully to 150 (MW). And that’s the start of our build out of solar.”
He added that feasibility studies for the company’s planned wind projects are ongoing.
“So we’re hoping to expand also in Burgos, in Ilocos Norte, and then in other areas where we have concessions,” Puno said.
The company’s continued investments are part of First Gen’s strategy to grow its low-carbon and renewable energy portfolio to 13 gigawatts by 2030, aligning with the Department of Energy’s Philippine Energy Plan.
“At the same time, we aim to grow our customer base thirtyfold, from 500 today to over 15,000, allowing more people access to greater choices of power supply,” Puno said.
