Deal #10241
Philippines
Created at
2024-02-21
Last update
2024-08-02
Land area
Intended size
60 ha
Size under contract (leased or purchased area)
- [2015, current] 73 ha
Size in operation (production)
- [2016-06-30, current] 73 ha
Comment on land area
Early news of the solar park reported that there was an expected size of 60 hectares however after construction, the total area reaches about 73 hectares
Intention of investment
Intention of investment
- [2015, current] Food crops, Solar park (73 ha)
Comment on intention of investment
Oliver Tan, chief executive officer and president of Citicore Power Incorporated, a sister company of Megawide, said the project which they call as "agro solar" is patterned after the farming methods that they also implemented in five other solar power plants in Luzon.
Carbon offset project
Carbon offset project
Yes
Comment on carbon offset project
Louie Ferrer, chairman of Cebu2World Development Inc., another sister company of Megawide and developer of Carbon Market modernization project, said the farm yields will be sold in Carbo
Nature of the deal
Nature of the deal
Lease
Negotiation status
Negotiation status
- [2015, current] Concluded (Contract signed)
Comment on negotiation status
Loan was granted in 2015, stating its contract approval in the same year
Implementation status
Implementation status
- [2015-10] Startup phase (no production)
- [2017, current] In operation (production)
Comment on implementation status
The First Toledo Solar Energy Corp. (FTSEC) is spread out on a 73-hectare property being leased by CPI from an owner who has already cleared the area before the firm started construction in October 2015.
According to RS analysis, operations began in 2017
Contract farming
Contract farming
No