Private firms eye initial 5-mw solar farm deal in Misor

INVENIC INC., partnering with SE Asia Power Technologies Limited (HK), is embarking on pouring out billions of pesos worth of renewable energy investments particularly on solar energy for Mindanao beginning with a five-megawatt solar farm in Barangay Banglay, Lagonglong, Misamis Oriental.

The groundworks are set to commence in the first quarter of next year or at the earliest second quarter of next year. 

NV Elio Ventures CEO and INVENIC’s consultant Nikki Elio revealed that for this year and all throughout the coming years beginning in the first quarter of 2020, INVENIC has already lined up multiple investments in solar energy and has committed itself in lighting up Mindanao with renewable energy as part of its advocacy to help reverse the global climate change problem using clean energy from solar as a step towards that direction. 

“INVENIC is mindful of the fact that the primary reason why only very few government agencies, private firms, and individuals are availing the benefits accorded to by RA 9513 otherwise known as the Renewable Energy Act of 2008 is because of the high cost in having solar energy installed in offices and residences, and this is where partners INVENIC, SE Asia (HK), and the Norway-based Renewable Energy Corporation (REC) headed by INVENIC CEO Edmund Yen will come in to provide free solar panels, equipment, installation, maintenance, at no upfront expense whatsoever to the government agencies, private firms, and residences and for them to eventually own the entire system,” said Nikki Elio.

INVENIC also understood that purchasing solar equipment constitutes capital outlay on the part of government agencies thus INVENIC provided a package making it easier and practical for them to acquire solar equipment without having to spend a single peso to purchase them and be a part of the global effort to utilize clean energy every day, Nikki Elio added.

Before the end of this year also, INVENIC will install rooftop solar to LGU-Lagonglong, Misamis Oriental and around 5-6 national agencies as pilot areas of its rooftop solar program and we are open to provide all LGUs with packages that would enable them to install adequate number of solar street lights in their respective barangays in such terms as the LGUs may deem easy and affordable for them, said Nikki Elio. 

“INVENIC is actually flexible on payment terms as we are not driven solely on the profit motivations alone but more on reversing the climate change problem that we are all facing now, in fact we are encouraging all electric cooperatives in Mindanao to join us in this advocacy for clean energy by complying their mandatory renewable portfolio standards obligations and we will provide for them also with packages whereby all distribution companies in partnership with the community in their respective service area of coverage and INVENIC can put up solar PV generation farms all over Mindanao without any cost whatsoever to the distribution utility as INVENIC will provide 100% financing, EPC, and operate the plant on turnkey basis with the community and the distribution utility as part-owners of the solar power plant,” continued Nikki Elio. (advertorial)