First Solar And OrionGroup Announce JV for Solar Development in Philippines
Posted 19 May 2015 8:10 PM by Won Park
Today First Solar and OrionGroup International, Inc. announced the launch of a Philippine Joint Venture (JV), FSO Energy Solutions, Inc. (FSO), that will realize solar energy projects in the commercial and industrial market space through power purchase agreements in the Philippines.
OrionGroup’s solar solutions have powered hotels, hospitals, golf courses, offices, factories and houses all over the country. Their flexible financing solutions allow customers to own renewable energy systems without any downpayments.
Through FSO, First Solar and OrionGroup will focus on providing large commercial and industrial customers with electricity through long-term agreements. FSO will provide a fully integrated renewable energy package that will create compelling value for our customers.
We are delighted to be collaborating with OrionGroup to address the demand of commercial and industrial consumers in the Philippines who are looking for an alternate energy source that is reliable, less volatile in price, and lower in cost.
With tremendous experience, an established footprint, and engineering and technology integration capabilities, OrionGroup is the ideal partner to accelerate the adoption of PV technology in the commercial and industrial space. This initiative will help to address the gap in demand-supply imbalance caused by various factors like grid supply, costly alternate diesel power and rising electricity costs.
As a vertically integrated solar energy company with 10GW installed worldwide, First Solar brings international experience and established technology leadership. This collaboration will combine the best of both companies’ capabilities to increase the number of commercial and industrial PV installations in the Philippines and provide a reliable alternative source of power generation to an energy constrained country.