By: Amy R. Remo
Philippine Daily Inquirer
Korea Water Resources Corp., the leading water resources and power company in South Korea, is looking to invest as much as $1 billion in equity for various water and power projects in the Philippines over the next three years.
Specifically, K-Water is considering the installation of floating solar power systems at the Angat Dam and the construction of the Kapangan hydropower project in Benguet, said K-Water representative in the Philippines, Jiheun (Peter) Yun.
According to Yun, the company is willing to invest as much as $60 million to install the “floating solar power system” in any of the dams in Luzon.
Once installed, it will be the first of its kind anywhere in the Philippines, the company claimed.
K-Water has already begun talks with potential partners including the Ayala group and conglomerate San Miguel Corp.
K-Water explained in a separate statement that the floating solar power system involved the setting up of solar panels in a reservoir, which would allow it to generate higher power output and, at the same time, create an ideal environment for fish spawning since it constrains green algae.
Yun told reporters that the company would initially install a system that could generate 10 megawatts.
Read more: http://business.inquirer.net/34405/s-korean-firm-eyes-1b-power-projects-in-philippines