A unit of Greenergy Holdings Inc. has inked a partnership with a Cainta, Rizal-based consortium for a solar panel project that aims to establish a sustainable residential community in Bacolod City.
In its filling in the Philippine Stock Exchange, Greenergy said its wholly owned subsidiary, Winsun Green Ventures, Inc. (WGVI), has entered into a memorandum of agreement with WRS Holding Inc. and Scheirman Construction Consolidated Inc.
As per the pact, the firm will be responsible for the design of the solar panel system and other green components for the development of a mixed-use integrated housing community in Bacolod City.
“Under the agreement, WGVI shall also assist in the marketing and selling of the housing units of the project,” Greenergy said.
“The agreement shall be in force and effect until the termination of the joint venture agreement entered into between the City of Bacolod and the developer,” the company added.
It may be noted that in March, the Bacolod city government partnered with the Cainta, Rizal-based consortium, to invest P2 billion primarily build housing units for informal settler families (ISFs) in two sets of 10,000 units each, in specific areas through a public-private partnership (PPP).
With this, it became the first local government unit to implement the Pambansang Pabahay para sa Pilipino Program. Bacolod entered a joint venture agreement (JVA) with the Scheirman consortium.
Under the JVA, the construction of the buildings will be carried out by the Scheirman consortium “at no cost” to the city government and the Department of Human Settlements and Urban Development (DHSUD).
