Board of Investments clears P86-billion Solar Philippines projects.
The Board of Investments (BOI) has approved the registration of eight projects of Solar Philippines Commercial Rooftop Projects Inc. worth a combined P85.96 billion.
The agency said the projects, which have complied under the special laws list of the current Investment Priorities Plan, are in line with the government's push to use more renewable power and lessen dependence on fossil fuels.
'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,' 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,' he added.
The eight solar projects will be located in Zambales, Batangas, Tarlac, Cavite and Nueva Ecija.
The biggest of the projects is the P18.99-billion solar photovoltaic solar facility being built in Paluig, Zambales.
Once operational, it will have a capacity of 140.64 megawatt peak (MWp) and will begin commercial operation by February 2020.
The company is also constructing a P13.56-billion solar farm in Tarlac known as the Concepcion Tarlac 2 Solar Project with a capacity of 293.76 MWp.
Similarly, a P13.56-billion solar facility with the same power capacity will rise in Balayan and Calaca towns in Batangas, called the Balayan Solar Power Project.
Commercial operations for the Tarlac 2 and Balayan projects are scheduled to start in January 2019 and February 2020, respectively.
According to the BOI, the power to be generated by the solar projects would be sold through the Wholesale Electricity Spot Market at competitive prices.
Solar Philippines operates the first Philippine-owned solar factory in Batangas, which started operations in March last year.
The factory is expected to ramp up to 800 MW in its initial year with the goal of expanding up to 2,000 MW annually or up to 2.5 million panels in the coming years.
Last year, BOI said renewable energy projects approved reached P268.2 billion, up 28 percent from P210 billion in 2016.
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|Publication:||Philippines Star (Manila, Philippines)|
|Date:||Mar 14, 2018|
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