Prime Infra invests P3.5B in solar projects in Tarlac, Batangas, Cavite

ABS-CBN News

Posted at Dec 13 2021 01:25 PM

MANILA - Prime Infrastructure Holdings has invested a total of P3.5 billion into solar projects in Concepcion, Tarlac, Tanauan, Batangas and Maragondon, Cavite, it said Monday.

This, after it signed a deal with Solar Philippines Power Holdings Inc to acquire 50 percent stake in Solar Philippines Tanauan Corp, the company said in a statement. 

The transaction involves an investment of P2 billion and management control for Prime Infra, the company led by Enrique Razon said.

"In addition to its investment in Solar Philippines Tarlac Corporation in 2020, this brings the total investment of Prime Infra in projects with Solar Philippines to Php3.5 billion, a testament to Prime Infra’s commitment to sustainability and growing its partnership with Solar Philippines," the company said.

The total investments will result in over 340 mw of solar projects in Concepcion, Tarlac, Tanauan, Batangas and Maragondon, Cavite.

Prime Infra said the 3 projects will create over 2,000 jobs during construction and over 100 jobs during operations.

When completed, the solar projects are seen to power over 200,000 homes, Prime Infra said.

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