Sumitomo Corp. has received an order from Cagayan Electric Power & Light Co. [CEPALCO] for one of the largest solar power systems ever built in Asia, the trading giant announced Monday.
Sumitomo will design and build the Y550m ($4.5m), 1MW power generation system on a 20 000 sq. metre site belonging to CEPALCO, a private utility company, in Cagayan de Oro, a city on northern Mindanao island.
The Japanese firm will deliver the system to the Philippine client by autumn 2002, according to Sumitomo officials. Sumitomo plans to entrust the design and building of the project to affiliated Sumitomo Densetsu Co. and to procure solar batteries from Sharp Corp., the officials said.
CEPALCO is set to finance part of the project using a $4m loan from the World Bank. The utility will market the generated power to industrial plants and households.
The power plant, which will use about 60 000 solar batteries, will be able to supply 500 000 households with electricity, assuming an average power consumption of 2 kW per household, the officials added.