Korean firm eyes 100-megawatt solar power farm in Sogod, Cebu

(Left to Right) C Pass President Jaeyoung Kim, Sogod Mayor Lissa Marie Durano-Streegan, SelTech Managing Director Bongho Cho, and SelTech Director Joy Lee after the signing of the Memorandum of Understanding last November 29. | Contributed photo

CEBU CITY, Philippines – A Korean company plans to build a 100-megawatt solar power farm in Sogod town in northern Cebu, a multi-billion-peso investment that comes as the Philippines seeks to address energy shortages and beat commitments established under its National Renewable Energy Program 2020-2040.

SelTech Co. Ltd, based in Cheongju City in South Korea, has earmarked $100 million or P5.7 billion to build a 100-megawatt “agrivoltaics” solar farm in Sogod, a second-class municipality located 77-kilometers north of Cebu City.

Officials of SelTech led by Managing Director Bong Ho Cho visited Sogod town on November 29 to sign a Memorandum of Understanding (MOU) with Mayor Lisa Marie Durano-Streegan that will allow the joint identification of a project site, the completion of institutional procedures, and logistical support for viable ways forward.

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“In order to implement the above-mentioned project, the parties shall create a Technical Working Group to plan and establish relevant trainings, testing and evaluating cooperative activities, and conduct other relevant activities jointly decided,” read part of the MOU.

SelTech currently operates numerous solar power plants across South Korea and has expanded its operation internationally since 2022, beginning with solar power projects in Sri Lanka, United Arab Emirates, Tanzania, and Kenya.

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The company’s innovation integrates solar power generation with agricultural activities, which aligns with the region’s sustainability goals.

Meanwhile, SelTech in collaboration with Filipino-Korean C PASS Topwallet, will allow power consumers to pay their power bills electronically through secure blockchain technology.

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C PASS, in partnership with Topjuan Tech, has secured an EMI and VASP BSP license that will allow it to provide nationwide mobile payment solutions. The firm currently provides e-wallet service in Europe.