ATNH sets 120-MW solar plant project

ATN Holdings (ATNH), through unit ATN Philippines Solar Energy Group Inc., has secured regulatory approvals for its planned 120 megawatts (MW) solar energy project with an initial approved project cost of P5.6 billion for a 30 MW solar facility.

The ATNH board approved the proposed investment plan for the additional investment of ATNH in ATN Philippines Solar Energy Group, Inc.

The firm is inviting qualified investors looking for high-yield Renewable Energy instruments to subscribe to its preferred shares, with no dilution impact on the outstanding ATNH Common Shares, according to a company disclosure.

The investment plan shall not constitute an offer to sell or be considered a solicitation of an offer to buy.

The ATNH preferred-share plan earmarked for the ATNS solar project is a milestone decision to profit from the growing energy demand in Metro Manila at 5.8 percent annually.

The project site is two kilometers from the New City being built by the biggest real-estate developers.

Investments of P200 billion are positioned in San Juan del Monte Bulacan Super City by SM Development, Ayala Land Altaraza Township, Colegio de Agustin, San Miguel Infrastructure Corporation Mass Rail Transit 7, Intermodal Transport Hub for North Luzon with 350,000 passenger capacity to decongest Metro Manila traffic gridlock, and ABS-CBN Next Gen Sound Studio Complex.

The New City creates new demand of energy of 300 MW, growing at 10 percent annually.

“In line with the growing economic opportunity near ATNH’s large tract of 256 hectares raw land, ATNH is investing in 120 MW of power generation plant to be implemented under its subsidiary ATNS, which holds a Service Contract for 30 MW of solar PV power issued by the Department of Energy and other permits needed to execute construction and operation of the initial 30 MW solar PV project,” ATNH said. RIZA LOZADA