GREEN Heat Corp. has allocated P2 billion for solar power projects in the next 18 months.
Glenn Tong, Green Heat managing director, told reporters in a briefing in Taguig City yesterday, the investment will bring in additional 100 megawatts (MW) of solar power capacity.
“…A number of these projects are in the pipeline. We have also secured financing for a number of them,” Tong said, adding some of the projects will be pursued with sister firm, Green Dot.
Green Heat is an energy solutions provider for large-scale businesses while Green Dot caters to residential and smaller sized solar installations.
The company said the P2 billion will be sourced from investors, some of which are from Europe and the Middle East.
“…We’re talking with a lot of large enterprises. A lot of them unfortunately asked us to sign NDAs (non-disclosure agreements) while we’re exchanging data. The (projects are) primarily rooftop (installations) not farms,” Tong said.
Green Heat said future solar projects may use floating technology. It is also eyeing more partnerships with SM Malls and data centers.
Green Heat was the first to offer power purchase agreements for solar in the Philippines and is now offering financing options through tie-ups with several major banks like BDO, BPI and Security Bank.
Green Heat and Green Dot have introduced new operations and maintenance and quality assurance services to maximize system efficiency. They have been engaged in the repair and refurbishment of other solar rooftops left unfinished or have malfunctioned.
Green Heat’s current portfolio is between 40 and 50 MW which include installations for SM, Landers Superstores and Wilcon Depot as well as residences located throughout the country.
