Soleq, Araneta Build 130 Megawatts of Solar Farms in Philippines

A venture of Thailand’s Soleq Solar Co. and Gregorio Araneta Inc. are investing $220 million to build solar farms in the Philippines, Araneta said in a statement.

A 100-megawatt, $170 million solar project in Negros Occidental province will be completed in December and a 30 megawatt generator in Leyte province started supplying power in March.

The Philippines, where power consumption jumped 50 percent in the decade to 2012, is rushing construction of power plants to avoid shortages. In November, SunEdison and Aboitiz Power Inc. agreed to develop as much as 300 megawatts of solar power plants in the country in the next three years.

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