Peak Energy signs 15-year solar deal with FCC in the Philippines
Solar system to generate 1,500 MWh in its first year.
Peak Energy has signed a 15-year onsite solar power agreement with F.C.C. Co., Ltd. for its manufacturing facility in the Philippines.
Under the agreement, Peak Energy will design, finance, build, own and operate the solar system, whilst FCC will purchase the electricity generated without any upfront capital expenditure.
The installation is expected to generate approximately 1,500 megawatt-hours of electricity in its first year of operation.
The companies said the project will reduce FCC's electricity costs by around 30% compared with grid tariffs and avoid approximately 650 tonnes of carbon dioxide emissions annually.
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The project is intended to lower energy costs, provide more predictable electricity pricing, and reduce exposure to imported fuel price volatility.
The agreement expands Peak Energy's portfolio with Japanese-owned manufacturers in Asia, adding FCC to customers including JTEKT, AICA and Yokogawa. FCC's facility is located in Laguna, the Philippines.