Solar POwer

Under the terms of the three-year agreement, the two firms will jointly explore, develop, construct and operate up to 300MW of utility-scale solar photovoltaic (PV) power generation projects in the Philippines.

SunEdison chief executive officer Ahmad Chatila said: "AboitizPower has extensive utility-scale experience in the Philippine power market, and SunEdison has leading world-class solar technology and deployment capabilities.

"Together we are ideally positioned to swiftly bring cost effective solar energy to the people of the Philippines."

Aboitiz Power chief executive officer Erramon Aboitiz said: "Our deep knowledge of local markets, together with SunEdison’s proven track record and cutting edge technology, will enable us to rapidly achieve our goal."

Aboitiz Renewables and SunEdison intend to develop the first in a series of utility-scale solar power projects in the Philippines, beginning in 2015.

The move follows similar agreements signed by US-based SunEdison in India and China.

SunEdison manufactures solar technology and develops, finances, installs and operates distributed solar power plants as well as provides 24/7 asset management, monitoring and reporting services for hundreds of solar systems.

Image: SunEdison partners with AboitizPower to develop solar power projects in Philippines. Photo: courtesy of franky242/