A new joint venture was formed between a Japanese firm and a Philippine-based firm to build as much as five megawatts of solar power facilities in the country over the next three years.
Philippine-based satellite broadband service provider We Are IT (WIT) Philippines, Inc. on Tuesday evening has forged an alliance with Japan-based solar and wind energy developer Eguchi Holdings, Co., Ltd. for the launch of Fujisan Solar and Wind Energy Corp., a new company that aims to develop the country’s sustainable energy sources and provide the most advanced emergency communication technologies.
WIT chief operating officer Joseph Maddatu said in an interview with reporters that the company is planning to initially put up 2 to 3 megawatts of solar power facility at the first year of the joint venture’s operations.
The facilities will be put up in different locations including one in Cagayan Valley, one in Pililla, and another in Mindanao.
Maddatu said Fujisa will try to put up as much as five megawatts over the next three years, adding that the investment for each megawatt will require the company a US$2-million investment.
Fujisan will bring solar panels certified by Japanese technology into the country.
“Through Fujisan’s renewable energy and superior communication technology solutions, we look forward to bringing new investments, better opportunities and better solutions,” Maddatu further said.
For his part, Katsuyoshi Eguchi, president of Eguchi Holdings, Co. Ltd. told reporters this is the first overseas investment that his company had done outside Japan.
“The Philippines has always been blessed with an abundance of solar power and the country is ready to harness this source of renewable energy.
Read more at http://www.mb.com.ph/japanese-ph-firms-launch-solar-venture/