ATN Philippines Solar Energy Group Inc., or ATN Solar, has asked permission from the Energy Regulatory Commission to construct a dedicated 34.5-kilovolt transmission line for its proposed 30-megawatt solar power plant in Rodriguez, Rizal.
“Today, our legal counsel advised us that ATN Philippines Solar Energy Group Inc. has concluded its hearing with the Energy Regulatory Commission on its application for authority to develop, own and operate a 34.5-kV dedicated point-to-point line and associated assets for its proposed 30-MW Solar PV Power Plant…,” ATN Holdings, ATN Solar’s parent, said in a disclosure.
ATN Holdings was the former Jabpract Mining and Industrial Corp. incorporated on February 17, 1961. It was primarily engaged in mining and oil exploration.
The Securities and Exchange Commission on March 14, 1996 approved the change in corporate name from JMIC and primary purpose from mining to a holding company engaged in real estate, land development and health care services.
ATN Solar’s 30-MW solar power plant, according to papers filedd with ERC, is designed to contribute to “the growing demand for power in the Philippines.” The solar plant is estimated to cost $42 million, which the company plans to finance through 70 percent debt and 30 percent equity.