ISLASOL I A
ISLASOL I A is an 18-megawatt solar power plant located in La Carlota City on Negros Island and was commissioned in March 2016.
OVERVIEW
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LOCATION
Philippines
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PROJECT SITE
247,300 ㎡
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CAPACITY
18 MW
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INVESTMENT VOLUME (CAPEX)
41.4 million USD
ESG PROFILE
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CONSTRUCTION JOBS CREATED
(average during construction period) 90 -
NEW PERMANENT JOBS CREATED
7
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ELECTRICITY REACH (people)
27,906
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CO2 AVOIDED (tonnes p.a.)
17,827
UN SDGs (directly supported)
Project Videos
Aerial view ISLASOL I (August 2016)
Project details
| Project Special Purpose Vehicle (SPV) | Negros Island Solar Power Inc. |
|---|---|
| Location | National Highway, Barangay Cubay, La Carlota City, Province of Negros Occidental, Philippines Coordinates: 10 25 22.84 N, 122 56 12.52 E |
| Technical Specifications | Solar irradiation at project site: 1,843 kWh/m2/year (PV Syst) Grid connection: To an existing 69 kV substation, 12 km away |
| Supplier/Manufacturer | Solar Panels: Conergy (Germany), Mounting Systems: Mounting Systems (Germany), Inverters: SMA Solar Technology (Germany), Monitoring System: Hensel (Germany), Cables and Wires: General Cable (USA), Philflex (Philippines), Spaced Aerial Cables: Bangkok Cable (Thailand), Junction Boxes, Optical Cables, Connectors and Tool, Boxes: Huber+Suhner (Switzerland), Transformers: Schneider Electric (France) |
| General Contractor (EPC) | Conergy Asia & ME Pte. Ltd. (EP: Engineering, Procurement) SJR Industrial Construction (Construction - groundworks and foundations) Schema Konsult, Inc. (Construction - electrical works and erection) |
| Operations & Maintenance | Conergy Asia & ME Pte. Ltd. |
| Electricity Offtake Counterparty | Interconnection Agreement with National Grid Corporation Renewable Energy Purchase Agreement with National Transmission Corporation (Administrator of the government backed Feed-in Tariff Fund) |
| Credit Rating Electricity Offtake Counterparty | Standard & Poor’s: BBB+ with stable outlook, Moody’s: Baa2 with stable outlook, Fitch: BBB with stable outlook |
| Specifications of the Power Purchase Agreement | Statutorily guaranteed feed-in-tariff degressed rate of PHP 8.69 (USD 0.19) per kWh plus an annual escalation in electricity prices to account for inflation and exchange rate fluctuations. The rate has been set and approved for 20 years by the Government‘s Energy Regulatory Commission. |
| Minimum guaranteed revenue in the first full year of operations | USD 5.19 million |
| Third party guarantees additional to the market standard warranties provided by suppliers, manufacturers and EPCs | During construction/erection: performance bond issued by Deutsche Bank for the EP. During operations: performance ratio guarantee with a maturity of 5+5 years of an ‘investment grade’ bank based in a OECD-country, structured as a CFD (contract for difference) which guarantees the difference between contracted revenue and actual energy production of the plant. |
| Project Insurance Coverage (amount insured) | Contractors All Risks Insurance covering material damage (USD 30,871,860), third party liability (USD 594,008) and delay in start-up (USD 3,098,194) Contractors Equipment Insurance (USD 403,949) Erection All Risks Insurance (USD 1,608,186) Transmission Line All Erection Risk Insurance (USD 904,604) |
| Insurer (coverage ratio) | AIG Philippines Insurance (29%), Pioneer Insurance and Surety (28%), Mapfre Insular Insurance (18%), Federal Phoenix Assurance (14%), New India (5%), Malayan Insurance (4%) and UCPB General Insurance (2%). |
| Status | In full operation since March 2016 |
Status: 30/09/2021
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