Korean-led Mirae Asia Energy Corp. is building a P2.4-billion solar photovoltaic power facility that will be able to generate 20 megawatts of electricity for Ilocos Norte.
According to Mirae Asia, its solar project in Currimao, Ilocos Norte, is expected to start producing 30 million kilowatt-hours by 2014.
Mirae Asia, which is composed of local and Korean investors, intends to start the construction of the facility upon the declaration of the project’s commerciality by the Department of Energy. It will take nine to 12 months to complete the project.
The company, which was granted a renewable energy service contract in September this year, has already completed the topographic and geotechnical study of the plant site in Currimao.
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