Renewable power pioneer Alternergy Holdings Corp. and its subsidiary Solar Pacific Energy Corporation celebrated the official launch of the Republic of Palau’s first solar and battery energy storage system (BESS) project on Friday.
This venture also stands as the largest of its kind in the Western Pacific region.
The project boasts a capacity of 15.3 MWp solar PV and 12.9 MWh BESS, making it one of the most significant foreign direct investments in the country.
With a total project cost of $29 million, the venture marks a remarkable milestone for Alternergy.
“This is a proud day for Alternergy as a Philippine-based company successfully inaugurating our very first renewable power project abroad,” Alternergy chairman Vicente S. Pérez Jr. highlighted the substantial contributions the project would make to Palau’s renewable energy goals and environmental sustainability”
“We are pleased that the project will make a significant contribution to Palau in achieving its goal of a 45 percent share of renewable energy in its power generation by 2025, provide 23,000 MWh of clean and renewable power, as well as avoid more than 10,000 tons of carbon emissions per year,” he added.
Pérez also acknowledged the project’s positive impact on the local economy, having generated employment opportunities for approximately 300 individuals during the construction phase.
Mike Lichtenfeld, CEO of Solar Pacific and Alternergy director, expressed Solar Pacific’s enthusiasm in exploring additional opportunities within the Pacific region, with their team actively seeking new projects.