The new plants will be built on the island of Negros in the Philippines, for San Carlos Solar Energy, Inc. (SaCaSol), a joint venture between European-based investment and advisory firm, ThomasLloyd and Bronzeoak Philippines. 

1. The Philippines is rapidly increasing energy generation in order to reduce electricity prices, which are the fifth highest in the world. Electricity market data indicate that average spot electricity prices decline as solar power generation increases, due to reduced consumption of expensive diesel. Yields from solar panels in the Philippines are roughly equivalent to those in Miami or Cairo. The Philippines government is therefore supporting solar through a feed-in-tariff of 0.21 USD / 0.17 Euros per kWh of grid-connected PV.