Negros PH Solar PV
The Negros project is a 150MWp Ground-Mounted Solar PV project located in Bacolod City and Bago City, Negros Occidental, Philippines and is currently under development.
The project covers ~115 Ha. of land that has been secured via long term lease agreements for a period of 30 years from the Commencement of Project Construction. There are no outstanding resettlement & rehabilitation activities in relation to the project land, with tree-cutting and fencing activities expected to be completed in Q4 2023.
NPSI has secured most of the key permits and approvals required for the commencement of construction of the project. it is intended that solar PV project be integrated with a battery energy storage system of optimal capacity.
NPSI has signed relevant agreements with a local cooperative, to allow the project to utilize its right of way for the Intended Transmission Line. The grid connection will be done via a dedicated point-to-point 138 KV transmission line from the project site to the NGCP bacolod substation with an estimated length of ~9.5-Km.
Project Status/ Progress
- Offtake: Energy output from the project will be sold via a combination of (1) long-term contract; and (2) WESM or direct short-term contracts with commercial and contestable customers. NPSI is currently in discussion with a few potential offtakers for a long-term offtake of up to ~75% of the annual energy output.
- EPC and O&M: EPC bidding process is underway, and the EPC contractor is expected to be selected by Q3 2023. Construction will be undertaken via a lump-sum turn-key EPC contract. Operations & maintenance of the project would be undertaken by an in-house operations team of the project company. However, for the initial two years of operations the project company will outsource the O&M activities to the onshore EPC contractor.
- Debt Financing: Discussions are ongoing with potential lenders. Financial close for the project is targeted by Q1 2024.
Targets & Milestones to Commence Construction
Below are key targets and milestones to FC, as follows:
|Execution of a Power Supply Agreement
|Execution of an EPC and O&M Contract
|Finalization of Transmission Line Design
|Achieve Financial Closing & Commence Construction
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