ALTERNERGY Holdings Corp.’s solar photovoltaic (PV) and battery storage project in Palau is set to begin commercial operations in April 2023, the renewable energy company announced on Monday.
“Alternergy and Solar Pacific saw the opportunity to explore the electricity market outside the Philippines and we are honored to be the first independent power producer (IPP) in the Republic of Palau,” Alternergy Chairman Vicente S. Perez said in a media release on Monday.
The project, which is already 65% completed, is under Solar Pacific Pristine Power, Inc., which is a unit of an Alternergy subsidiary.
The Palau solar PV and battery storage project has a capacity of 15.3 megawatt-peak (MWp) solar PV and 12.9-megawatt-hour (MWh) battery energy storage system (BESS).
Mike Lichtenfeld, Chief Executive Officer of Solar Pacific, said in the media release that the Palau project builds a strong partnership with the governments of Palau, through a long-term power supply agreement (PSA) with the Palau Public Utilities Corp., and Australia, through project financing under the Australian Infrastructure Financing Facility for the Pacific.
The Palau hybrid project is expected to provide up to 23,000 MWh of clean and renewable energy to Palau, which translates to 20% of the country’s annual demand.
Mr. Lichtenfeld added that the project is one of the biggest direct foreign investments in Palau with a cost of $29 million, “and is generating local employment and tax revenues to the country.” — Ashley Erika O. Jose