20. November 2015
20. November 2015



San Carlos Solar Energy I C

Project Special Purpose Vehicle (SPV) San Carlos Solar Energy Inc.
  • San Carlos Ecozone (Agro-Industrial Economic Zone), Barangay Palampas & Punao, San Carlos City, Province of Negros Occidental, Philippines
  • Coordinates: 10 31 22.52 N, 123 25 49.23 E
Technical Specifications
  • 13 MWp DC ground-mounted solar plant
  • Project site: 174,311 m²
  • Solar irradiation at project site: 1,871 kWh/m²/year (PV Syst)
  • Grid connection: To an existing 69 kV substation, 80 m away
Reach of Electricity Supply 30,000 people
New permanent jobs 12 in the plant
  • Solar Panels: Conergy (Germany) 
  • Mounting Systems: Mounting Systems (Germany)
  • Inverters: SMA Solar Technology (Germany)
  • Monitoring System: Hensel (Germany)
  • Cables and Wires: General Cable (USA), Philfex (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.
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 rate of PHP 9.68 (USD 0.23) 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: performance bond issued by Deutsche Bank AG 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) Of the same standard as San Carlos Solar Energy I A & B
Insurer (coverage ratio) To be finalised
Commercial Operations Date (COD) based on EPC contract July 31, 2015

Status: 31.03.2015

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