BOI okays P86B solar projects

The Concepcion-Tarlac-2 solar power project of Solar Philippines. (CLNC image)

THE Board of Investments (BOI) has approved eight solar projects of Solar Philippines Commercial Rooftop Projects, Inc. worth P85.96 billion, the agency reported Tuesday.

The solar projects were included in the Special Laws List of the Investment Priorities Plan (IPP).

The eight solar energy farms of Solar Philippines registered with the BOI are:

* The P18.99 billion Iba-Palauig 2 Solar Project in Palauig, Zambales with capacity of 140.64 megawatts (MW) set to operate in February 2020

* The P13.56 billion Concepcion Tarlac 2 Solar Project in Tarlac City with capacity of 293.76 MW to be operational by January 2019

* The P13.56 billion Balayan Solar Power Project in towns of Balayan and Calaca in Batangas with capacity of 293.76 MW to be operational by February 2020

* The P8.64 billion Maragondon-Naic 1 Solar Farm in 168-hectare property in municipalities of Naic, Maragondon, and Indang with capacity of 196 MW to be operational by October 2018

* The P8.64 billion Maragondon-Naic Tanza 2 Solar Project also in 168-hectare property in municipalities of Naic and Tanza with capacity of 196 MW to be operational by October 2018

* The P8.6 billion Sta.Rosa Nueva Ecija 2 Solar Project in 168-hectare land in towns of Sta. Rosa, Peñaranda and San Leonardo in Nueva Ecija with 193.54 MW capacity set to operate by January 2020

* The P7.08 billion solar facility in Sta. Rosa and Concepcion, Tarlac slated to be operational by January 2019

* The P6.9 billion solar energy farm in La Paz, Tarlac City set to be operational by January 2020

“The firm is at the forefront of producing renewable and affordable energy to address the growing power requirements of the country with the manufacturing resurgence and infrastructure programs in full swing,” Trade Undersecretary and BOI Managing Head Ceferino Rodolfo said.

“By taking advantage of the tropical climate of the archipelago, Solar Philippines is not only producing energy through its solar farms but also producing its own solar panels as it aims to become one of the world’s largest solar panel manufacturers and exporters,” added Rodolfo.

Solar Philippines eyes to sell at the Wholesale Electricity Spot Market (WESM) once these eight projects are completed.

The firm is set to hire 243 personnel for the eight solar projects.

Currently, Solar Philippines operates a solar factory in Batangas with an initial capacity of 800 MW, which is set for expansion up to 2,000 MW or up to 2.5 million panels in the next years.

BOI data showed that renewable projects registered with the agency increased by 28 percent to P268.2 billion last year from P210 billion in 2016.

p: wjg