FSO Energy Solution, Inc. (FSO), a joint venture between First Solar and OrinoGroup, has been launched for developing solar projects in Philippines. The JV will focus on providing large commercial and industrial customers with integrated renewable energy packages and will sign long-term power purchase agreements.
OrionGroup's solar solutions have powered hotels, hospitals, golf courses, offices, factories and houses all over the country. Its flexible financing solutions allow customers to own renewable energy systems without any down payments. By combing with First Solar’s experiences in PV solar systems, OnionGroup will be able to capitalize on its strength for their clients. FSO leverages both companies’ expertise to accelerate the adoption of PV technology in the commercial and industrial market of Philippines. The initiative will help to address the gap in demand-supply imbalance caused by grid supply and other factors.
"Our business strategy is to provide the best product offerings and services as we strengthen our market reach in the Philippines," said Engr. Rynor G. Jamandre, Executive Vice President, OrionGroup International, Inc.
Jack Curtis, First Solar's Regional Manager for Asia Pacific, said, "We are delighted to be collaborating with OrionGroup to address the demand of commercial and industrial consumers in the Philippines who are looking for an alternate energy source that is reliable, less volatile in price, and lower in cost."
The collaboration will combine both companies’ capabilities to increase the number of commercial and industrial PV installations in the Philippines. It will also provide a reliable alternative source of power generation to an energy constrained country.