The Board of Investments greenlights major solar power project in Pangasinan, Philippines
Source：https://solarquarter.com/2024/02/15/the-board-of-investments-greenlights-major-solar-power-project-in-pangasinan-philippines/
From：Taiwan Trade Center, Manila
Update Time：2024/03/26
In a significant move to enhance the renewable energy sector in the Philippines, the Board of Investments (BOI), through its One-Stop Action Center for Strategic Investments (OSACSI), has awarded a Green Lane Certificate to the Burgos Pangasinan Solar Power Project. This solar initiative, set to rise in the Municipality of Burgos, Pangasinan, received the certificate during an awarding ceremony at the BOI Main Office on January 31, 2024.
Undersecretary Ceferino S. Rodolfo, Managing Head of BOI, presented the Green Lane Certificate of Endorsement to officials from Burgos Pangasinan Solar Energy Corporation (BPSEC), with Mr. Kyle A. Mina leading the delegation. The project, expected to be operational by September 2026, is a ground-mount solar power plant spanning approximately 71.5 hectares, aiming for an installed capacity of 65 MWp or 50 MWac.
The Department of Energy (DOE) awarded the Solar Energy Operating Contract to BPSEC in December 2023, aligning with the national target of achieving a 35% share of renewable energy (RE) in the power generation mix by 2030. Apart from its contribution to the nation’s energy goals, the project is anticipated to provide substantial socio-economic benefits. During the construction and operational phases, it is estimated to generate over 500 job opportunities for Filipinos.
BPSEC, a Special Purpose Vehicle (SPV) registered under the Securities and Exchange Commission (SEC), is dedicated to developing the solar power project. As part of Rising Renewables Holdings, Inc. (RRHI), a Filipino RE platform, BPSEC focuses on initiating and developing high-quality RE assets for both local and foreign investors.
Acknowledging the support from BOI, Mr. Mina expressed appreciation, saying, “Thanks to BOI’s assistance, we anticipate working closely with relevant local and national agencies to fulfill the project’s permitting requirements promptly. Our joint objective is to integrate more clean energy into the grid at the earliest opportunity.”
The OSAC-SI will work closely with local officials of the Province of Pangasinan to endorse the project, streamlining permitting and licensing processes at the local level.
Source: https://solarquarter.com/2024/02/15/the-board-of-investments-greenlights-major-solar-power-project-in-pangasinan-philippines/