Dec 31, 2010
First Philec, through its wholly owned subsidiary First PV Ventures, signed a joint venture with Nexolon of Korea to put up a 400-megawatt solar wafer-slicing facility in Batangas. First Philec President Dr. De Guia said they expect the operation of the facility by the fourth quarter of this year. The plant is expected to generate employment for around 500 new jobs.
The JV company, First Philec Nexolon Corporation, is the latest addition to First Philec’s investments in the photovoltaic or solar industry. First Philec’s foray into this industry began in the Year 2007 when it inked a joint venture deal with SunPower Corporation for the first large scale wafer slicing facility in the country.
In 2010, First Philec incorporate First Philec Solar Solutions (FPSS) to design, develop and manage commercial to utility scale solar power applications. FPSS successfully completed its first commercial scale solar photovoltaic installation in December. It is currently evaluating numerous local systems installation opportunities in different stages of development. FPSS is geared towards exploring both domestic and overseas opportunities in the field of solar installation.
The First Philec group will continue to grow its investments in the solar industry which has exhibited remarkable growth rates globally in the last decade. “Our company will keep developing strategic partnerships with technology leaders that will complement the manufacturing excellence and expertise of First Philec,” de Guia said. “The company will also undertake research and development activities that focus on improvements in technology, process and equipment for the solar industry.”
First Philec is the intermediate holding company for all manufacturing investments of First Philippine Holdings Corporation (FPHC). Through First Philec, FPHC intends to grow its investments in manufacturing to provide a more robust backbone to the country’s economy, one that is founded on technological competitiveness and increased ability to add value to products and manufacturing services for the global market.
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