Chinese firm Xidian Holdings to inject $500m in Philippine energy project

It plans to set up a 232MW wind and solar project in Northern Philippines.

Xidian Holdings, along with a Singapore-based consortium, signed a deal to invest $500m in building a 232MW wind and solar project in Ilocos Norte, a province located in Northern Philippines.

The project's target completion date is mid-2018, and construction will begin by March as the groups are currently woking on the EPC contract.

The 232MW project is part of Xidian Holdings' 500MW renewable energy investment portfolio by 2020.