Conergy Completes Philippines Biggest Solar Park for ThomasLloyd

May 15, 2014 7:18 am ET

May 15 (Bloomberg) -- Conergy AG completed the first and largest utility-scale solar plant in the Philippines for Swiss investor ThomasLloyd Group Ltd.

The developer opened the initial 13-megawatt phase of a 22- megawatt project in San Carlos City in Negros island, Conergy said today by e-mail. The final phase will start operating within months, generating enough power for about 13,000 homes.

The facility is the first to take advantage of the Philippines solar subsidy program introduced in 2008, part of a plan to triple clean-energy generation by 2030. A dozen similar size projects are already being developed in the country, where the only another solar park with 1-megawatt operates, according to Bloomberg New Energy Finance.

“Conergy is working internationally with its partners to unlock the barriers to the wider adoption of solar, including in countries like the Philippines where the conditions are perfect,” Marc Lohoff, Conergy’s head of Asia, said.

The San Carlos project was funded by ThomasLloyd, a Zurich- based investor in Asian renewables. The company is also working on two other solar projects and three biomass plants in the area with its local partner Bronzeoak Philippines Inc.

The plants will be financed with $330 million in loans from the International Finance Corp., ThomasLloyd said Feb. 26.