Kinergy Advancement Berhad is venturing into the Philippines by signing the Head of Agreement with LCS Holdings Inc a major player in solar energy development where both parties will look develop a 20 Megawatts-peak Solar Farm Project located at Santa Ilocos Sur, Philippines.
The parties have also informed that they could expand the project up to 100 MWp. LCS, the project owner, has secured all necessary contracts and permits for this Solar Farm project. The project will have a lifespan of 25 years, providing a stable and long-term recurring income for KAB. The energy produced from the project will be exported to Retail Electricity
Supplier or the Wholesale Electricity Spot Market (“WESM”) in the Philippines.
The agreement, which is subject to definitive documentation and due diligence, is expected to be formalised soon. Both parties look forward to a fruitful and sustainable partnership that will pave the way for a greener future.
