Solar power for the Philippines
News from 2017-01-11 / DEG
The Philippine economy is growing and demand for low-cost electricity by local companies is on the rise. Yet a shortfall in energy supply capacities ensures energy prices are high, and with more than 7,000 islands providing power by means of large, centralised power stations is not an option.
Low-cost solar power for local companies
DEG is now promoting the investment of a German project developer that sells and installs solar power systems in the Philippines. PV2 Energie, a company from the German state of North Rhine-Westphalia, set up a branch in Manila in 2014. From its local base, PV2 sells turnkey, rooftop solar installations to meet the needs of local trading and industrial companies. In future, the project developer also plans to focus on contracting in the Philippines. This will involve operating solar power systems and cogeneration power plants for firms that do not want to invest themselves. These facilities will supply solar power and heating for the customers’ production processes.
PV2 is planning to set up the Philippines's first contracting solar plant this year. DEG is co-financing the investment as part of its Up-scaling programme with the aim of offering low-cost green electricity to local companies. At the same time, DEG is enabling its customer PV2 to make further inroads into the future market of the Philippines.