Renewable energy firm Alternergy Holdings Corp. has started commercial operations of its first international energy project.
Alternergy said its subsidiary, Solar Pacific Energy Corp., has inaugurated its $29 million solar photovoltaic (PV) and battery energy storage system (BESS) project in Palau.
The project is Palau's first solar PV+BESS and the largest to date in the Western Pacific region.
'This is a proud day for Alternergy as a Philippine-based company successfully inaugurating our very first renewable power project abroad,' Alternergy chairman Vicente Perez Jr. said.
'We are even more proud that our project is inaugurated today as the Republic of Palau marks its three decades of independence as a sovereign nation. Our solar PV+BESS project is Palau's path to energy independence,' he said.
Alternergy said the solar PV+BESS project is one of the biggest foreign direct investments in Palau with a total project cost of $29 million.
It has a capacity of 15.3 megawatt peak solar PV and 12.9 megawatt-hour (MWh) BESS.
'We are pleased that the project will make a significant contribution to Palau in achieving its goal of 45 percent share of renewable energy in its power generation by 2025, provide 23,000 MWh of clean and renewable power as well avoid more than 10 thousand tons of carbon emissions per year,' Perez said.
He said the project provided employment to about 300 people during its construction.
Mike Lichtenfeld, CEO of Solar Pacific and Alternergy director, said the project has attracted strong interest from other Pacific Island nations to follow the energy direction of Palau.
'Solar Pacific is excited to explore other opportunities in the Pacific region and our team is actively on the lookout for new projects,' Lichtenfeld said.
Solar Pacific is a subsidiary of Alternergy and an independent clean energy producer based in the Philippines and active throughout Asia-Pacific.
Alternergy aims to develop up to 1,370 MW of additional wind, offshore wind, solar and run-of-river hydro projects in the next five years.