SunEdison To Develop Up To 300MW Of Solar In The Philippines

SunEdison Philippines

SunEdison, Inc. (NYSE: SUNE), has announced the signing of a joint framework agreement with Aboitiz Renewables, Inc. to scope, develop and operate up to 300 megawatts of utility-scale solar PV projects in the Philippines over the next three years.

SunEdison says the experience and knowledge of the Philippines market provided by Aboitiz Power Corp., parent company of  Aboitiz Renewables, combined with SunEdison’s strength in solar technology and deployment will rapidly bring cost effective solar energy to the people of the Philippines.

The partnership aims to develop the first in a series of utility-scale solar power projects in the nation from next year.

The announcement follows similar recent arrangements by SunEdison in China; where a joint venture agreement with JIC Capital will see up to 1 GW of utility-scale solar PV projects developed.

In other recent SunEdison news, the company announced the completion of three new solar power system installations at schools in Orange County, California.

22 schools in the Irvine Unified School District (IUSD) are now harvesting power from the sun with SunEdison solar panel systems; which will save the district an extra USD $5 million to $8 million in energy costs over the next 20 years.

The systems were installed under a zero up-front cost power purchase agreement (PPA) with SunEdison, freeing up cash that will be used to provide more resources for teachers and students.

IUSD’s solar panel installations generate approximately 25 – 60 percent of each school’s electricity needs and also provide the basis for standards-based instruction, allowing students to learn about solar PV technology and track energy production and consumption in real time.

” As the largest solar powered school district in Orange County with over 5.4 megawatts (MW) installed, we’re taking this opportunity to educate our children on the benefits solar energy can bring to the community,” said Mark Sontag, director for math, science, and career technical education at Irvine Unified School District.

The school district is now working with SunEdison to incorporate solar power into the design of new schools to be constructed over the next 8 years. SunEdison and its financing partners, including TerraForm Power (NASDAQ: TERP), which is also a SunEdison Company, will own and operate the systems.

Source: SunEdison & Irvine Unified School District