ISLASOL I B
25. November 2015

ISLASOL II

Expertise

PROJECT SITE

NEGROS OCCIDENTAL, PHILIPPINES

Expertise

CAPACITY

48 MW

 

Expertise

REACH OF ELECTRICITY SUPPLY

100 000 PEOPLE

Expertise

CO2 REDUCTION

39.552 TONNES P.A.

Landkarte Portfolioreport Web ISLASOL II

Impressions of the project

Aerial view ISLASOL II (August 2016)

Project details

Project Special Purpose Vehicle (SPV) Negros Island Solar Power Inc.
Location
  • Hacienda Sicaba Lacson, Barangay Sta. Teresa, Municipality of Manapla, Province of Negros Occidental, Philippines
  • Coordinates: 10 56 53.60 N, 123 09 56.77 E
Technical Specifications
  • 48 MWp DC ground-mounted solar plant
  • Project site: 638,000 m²
  • Solar irradiation at project site: 1,911 kWh/m²/year (PV Syst)
  • Grid connection: To an existing 69 kV substation, 15 km away
Reach of Electricity Supply 100,000 people
New permanent jobs 20 in the plant
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)
  • Phesco, Inc. (Construction - electrical works and erection)
  • Construction incl. groundworks and foundations: currently under tender
Operations & Maintenance Conergy Asia & ME Pte. Ltd.
Owner‘s Engineer Syntegra Solar International AG
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 positive 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.
Third party guarantees additional to the market standard warranties provided by suppliers, manufacturers and EPCs
  • During construction/erection: 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)
  • Erection All Risks Insurance covering material damage (USD 73,284,240), third party liability (USD 594,008) and delay in start-up (USD 7,582,265)
  • Transmission Line All Erection Risk Insurance (USD 1,872,599)
Insurer (coverage ratio) AIG Philippines Insurance (29%), Pioneer Insurance and Surety (28%), Mapfre Insular Insurance (20%), Malayan Insurance (20%) and UCPB General Insurance (2%)
Status In full commercial operation since March 2016
Commercial Operations Date (COD) based on EPC contract February/March 2016

Status: 31.03.2018

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