Solana Solar cements supply deal with Villar firm
Solana Solar Alpha Inc. (Solana Solar), a subsidiary of Altenergy, has cemented a power supply agreement with Villar-led retail electricity supplier company Kratos RES Inc.
Under the agreement, Solana Solar will supply Kratos RES with 10-megawatt and up to 20 MW of clean and renewable power from the soon-to-be built Solana Solar power project located in Hermosa, Bataan.
Kratos RES, a subsidiary of Prime Asset Ventures, Inc. (PAVI) of the Villar group, is the business unit of the conglomerate engaged in selling power to qualified bulk end-users.
In a statement, Alternergy Chairman and Solana Solar Chairman and President Vicente S. Perez Jr. said their company’s deal with Kratos RES will help the customers of the latter to “achieve their sustainability goals and transition their power supply to renewable energy.”
Solana Solar did not provide the agreed tariff in the supply pact, but Solar Pacific Chief Executive Officer Mike Lichtenfeld indicated it was anchored on a "cost competitive" electricity supply that the Villar firm could then use to meet the requirements of its customers, including malls, offices, complexes and manufacturing facilities.
He added such type of end-users being catered to by Kratos are the businesses that require “operational and cost efficiencies” – and their shift to green energy usage will also satiate their sustainability goals.
As more corporates are now intensifying initiatives on "greening the chain of their operations", sourcing of power supply from renewable energy (RE) is palpably turning out to be a well-entrenched component of core business practices.
Jose Rommel Orillaza, head of Operations at Kratos, said the Villar firm is “committed to delivering the needs of our customers with a high-quality supply and in a cost-efficient manner. Our partnership with Solana Solar will help address these.”
Funding for the Solana solar farm project had already been secured; and engagement of the engineering, procurement and construction (EPC) contractor had likewise been concluded.
Following those milestones in the project’s development paragon, Alternergy stated that construction work activities at its Solana solar facility will soon be advancing on full swing, to get to its commercial operations date i(COD) in 2024.