ISLASOL I B
20. February 2020

ISLASOL II

ISLASOL II is a 48-megawatt solar power plant located in Manapla on Negros Island and was commissioned in March 2016.

OVERVIEW

  • LOCATION LOCATION Philippines
  • PROJECT SITE PROJECT SITE 638,000 ㎡
  • CAPACITY CAPACITY 48 MW
  • INVESTMENT VOLUME INVESTMENT VOLUME (CAPEX) 95 million USD

ESG PROFILE

  • Project site CONSTRUCTION JOBS CREATED
    (average during construction period)
    239
  • Capacity NEW PERMANENT JOBS CREATED 20
  • Reach of electricity supply ELECTRICITY REACH (people) 77,703
  • CO2 reduction CO2 AVOIDED (tonnes p.a.) 49,640

Project Videos

 

Aerial view ISLASOL II (August 2016)

 

Impressions of the project

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 Solar irradiation at project site: 1,911 kWh/m2/year (PV Syst)
Grid connection: To an existing 69 kV substation, 15 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)
Phesco, 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 14.10 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) 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 operation since March 2016

Status: 30/09/2021

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