Solana Solar Alpha Inc., a wholly-owned subsidiary of Solar Pacific Energy Corp., signed a power supply agreement with Kratos RES Inc., a wholly-owned subsidiary of Villar Group’s Prime Asset Ventures Inc. which is engaged in retail electricity supply.
Solana Solar will supply Kratos RES with up to 20 megawatts of clean and renewable power from the soon-to-be built Solana solar project in Hermosa, Bataan.
“We are pleased to partner with Kratos RES to help its electricity end-consumers achieve their sustainability goals and transition their power supply to renewable energy,” Alternergy Holdings Corp. chairman and Solana Solar chairman and president Vicente Pérez Jr. said.
The 20-MW Solana solar project, with a cost of P1.5 billion, recently secured financing commitments from a leading commercial bank and a commitment for the engineering, procurement and construction from a leading EPC provider.
Early works activities had started, with the full swing construction to commence in the coming months. Project completion is eyed by 2024.
