France’s Urbasolar to invest $204M in Philippines in 2015

French solar power company Urbasolar has committed to infuse $204M from a consortium of European “green” funders to build 100 megawatts of solar plants in the Philippines this year.

The first of these plants is a 30-MW facility in Victoria City, Negros Occidental, said Urbasolar’s local partner SunAsia Energy.

Urbasolar has an 11 percent market share in the French solar space and covers all aspects of the value chain in the photovoltaic industry, from production of raw materials to the advanced smart grid applications, said SunAsia Energy president Tetchi Cruz-Capellan.

The construction of the 30-MW solar power plant scheduled in June this year would be in partnership with Miescor and the Development Bank of the Philippines, a government financial institution.


The above is an excerpt of French solar power firm commits P9B for Philippine plants by Iris C. Gonzales for The Philippine Star. Image Credit: Urbasolar.