Harbor Star Shipping Services Inc., a leading provider of harbor assistance, lighterage, salvage and towing services in the country, said its unit acquired a 60-percent stake in three related renewable energy firms.
Harbor Star said in a disclosure to the stock exchange that wholly-owned subsidiary Harbor Star Energy Corp. purchased a 60-percent interest in Astronergy Development Gensan Inc., Astronergy Development F1 Inc. and Astronergy F2 Inc. or the ADI Companies.
Harbor Star said the ADI Companies had a long-term land lease from the Environment and Natural Resources Department and owned entitlements, licenses and permits to operate a 25-megawatt solar power plant in General Santos City. The plant could be expanded to 75 MW.
The construction of the initial 25-MW solar power plant will be completed by the second quarter of 2018.
Harbor Star said in March it planned to diversify into renewable energy. The shipping firm earlier teamed up with port operator International Container Terminal Services Inc. to operate Cavite Gateway Terminal on a six-hectare property in Tanza, Cavite.