US-BASED First Solar, Inc. is poised to enter the Philippine renewable energy market through a partnership with OrionGroup International, Inc., the companies said in a joint statement.
First Solar and OrionGroup have formed FSO Energy Solutions, Inc. to undertake “solar energy projects in the commercial and industrial market space” in the Philippines via power purchase agreements.
According to the statement, First Solar’s projects include the 550-MW Topaz Solar Farm in California, which claims to be the world’s largest solar facility, and a 130-MW Apple, Inc. facility, also in California.
The partnership with OrionGroup will be the company’s maiden foray in the Philippines.
OrionGroup is as an engineering company that provides solar solutions for hotels, hospitals, golf courses, offices, factories and residences.
“Its flexible financing solutions allow customers to own renewable energy systems without any down payment,” the statement read.
For the venture in the Philippines, FSO will cater to large commercial and industrial customers with electricity through long-term agreements.
“FSO will provide a fully integrated renewable energy package that will create compelling value for our customers,” the statement added.
Negotiations for the actual projects have yet to be finalized but the joint venture hopes to also cater to small and medium enterprises.
In the same statement, OrionGroup Executive Vice-President Rynor G. Jamandre welcomed the partnership with First Solar, which he described as “a global leader with a successful track record over the years in photovoltaic (PV) solar systems.”
“They elevate the standards of PV installations and we embrace that same approach in the Philippines. We are here to capitalize on our strengths for the clients,” Mr. Jamandre said.