Solana Solar Alpha Inc., a company listed under renewable energy firm Alternergy, on Tuesday announced it signed a power supply agreement with Villar Group’s Kratos RES Inc.
Solana Solar is a subsidiary of Alternergy’s wholly owned unit Solar Pacific Energy Corporation, while Kratos RES is a fully owned unit of Villar-led Prime Asset Ventures Inc. (PAVI) engaged in retail electricity supply —most of which are malls, offices, complexes, and manufacturing facilities.
In a statement, Alternergy said Solana Solar will supply Kratos RES with 10 megawatts (MW) and up to 20 MW of renewable power from its soon-to-be built Solana Solar Power 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,” said Alternergy chairman and Solana Solar chairman and president Vicente Perez Jr.
Alternergy said its Solana Solar Power Project has secured financing commitments from “a leading Philippine commercial bank and a commitment for the Engineering, Procurement and Construction (EPC) from a leading EPC provider.”