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BoI registers nearly P86B worth of projects by Solar Philippines

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solar panels BoI
SOLAR PHILIPPINES

THE Board of Investments (BoI) said it approved the registration of eight solar projects of Solar Philippines Commercial Rooftop Projects, Inc. with a total value of P85.96 billion.

“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 S. Rodolfo said in a statement Tuesday.

“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.”

The agency said the projects complied with the Special Laws List of the current Investment Priorities Plan through Republic Act No. 9513, otherwise known as the Renewable Energy Act of 2008.

The BoI added that these projects are compliant with the law’s National Renewable Energy Program (NREP) which aims to reduce the country’s reliance on fossil fuel for energy.

These projects include an P18.99-billion solar facility in Paluig, Zambales. Once operational, it will have a capacity of 140.64 megawatt peak (MWp) for direct current capacity or 140 MWac for alternating current capacity. Operations for the plant are expected to start by February 2020.

In addition, the firm is constructing a P13.56-billion solar farm in Tarlac which will have a capacity of 293.76MWp or 200 MWac. A P13.56-billion solar facility with the same power capacity will rise in Balayan and Calaca towns of Batangas. These projects are scheduled to be operational by January 2019 and February 2020, respectively.

In Cavite province, Solar Philippines is putting up two solar facilities, each with an investment of P8.64 billion with combined capacity of 196 MWp or 140 MWac. Both are due to be operational by October 2018.

The remaining projects will be established in Sta. Rosa and Tarlac where the power generated by these projects will be sold through the Wholesale Electricity Spot Market at competitive prices.

These projects will generate 243 jobs.

Solar Philippines operates the first Philippine-owned solar factory in Batangas, which began operations in March 2017. The capacity at this plant is targeted to increase to 800 MW in its initial year and, eventually rising to 2,000 MW a year.

The BoI said power projects including renewable energy totaled P268.2 billion last year, up 28%. These projects accounted for 43.5% of the P616.8 billion total investment approvals recorded by the BoI in 2017. — Janina C. Lim