ALTERNERGY Holdings Corp. through its subsidiary Solar Pacific Energy Corp. signed an agreement with Kratos RES, Inc. to supply the latter with up to 20 megawatts (MW) for 20 years, the renewable energy company said.
Solar Pacific’s wholly owned subsidiary Solana Solar Alpha, Inc. forged the power supply deal with Kratos RES, Alternergy told the stock exchange on Tuesday.
“We are pleased to partner with Kratos RES to help its electricity end-consumers achieve their sustainability goals and transition their power supply to renewable energy,” said Vicente S. Perez, Jr., chairman of Alternergy and Solana Solar.
Alternergy said Solana Solar will supply Kratos RES with 10 to 20 MW of clean and renewable energy, which it will source from its solar power project.
The 28-MW direct current Solana Solar power project in Hermosa, Bataan is expected to be operational by 2024, Alternergy said.
“The Solana Solar Power Project will provide reliable and cost-competitive electricity supply to malls, offices, complexes and manufacturing facilities served by Kratos, whose businesses require operational and cost efficiencies. By partnering with Kratos, we are proud to assist these sectors make sustainability part of how they operate,” said Mike Lichtenfeld, chief executive officer of Solar Pacific.
Kratos RES, a wholly owned subsidiary of Prime Asset Ventures, Inc. or PAVI, is primarily engaged in retail electricity providing power to commercial, residential, and industrial partners.
At the local bourse on Tuesday, shares in Alternergy gained three centavos or 2.86% to end at P1.08 apiece. — Ashley Erika O. Jose
