Alternergy Holdings Corp. said its subsidiary Solana Solar Alpha Inc., signed a power supply agreement with Kratos RES Inc., a wholly- owned subsidiary of Villar Group’s Prime Asset Ventures Inc., engaged in retail electricity supply.
The company said in a statement that Solana Solar will supply Kratos RES with 10 megawatts (MW) and up to 20 MW of power from the soon-to-be built solar project in Hermosa, Bataan.
Solana Solar is a wholly-owned subsidiary of Alternergy’s Solar Pacific Energy Corp.
Alternergy said Solana Solar’s Bataan project has secured financing commitments as well as the engineering, procurement and construction contractor of the facility.
The company added early work activities for the project have started with full swing construction to start in the coming months.
“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, Solar Pacific chief executive officer, in the statement.
