BoI approves P85.9-b investments of Solar Philippines
The Board of Investments said it approved the registration of eight solar projects of Solar Philippines Commercial Rooftop Projects Inc. worth P85.9 billion.
The agency said the projects were found to have successfully complied with the requirements under the Special Laws List of the current Investment Priorities Plan through the Renewable Energy Act of 2008.
“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. 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,” said Trade Undersecretary and BoI managing head Ceferino Rodolfo.
Solar Philippines is building an P18.99-billion solar photovoltaic solar facility known as the Iba-Palauig 2 Solar Project in Paluig, Zambales with a capacity of 140.64 megawatt peak or 140 MW for alternating current capacity. Commercial operation is scheduled to start in February 2020.
It is also constructing a P13.56-billion solar farm known as the Concepcion Tarlac 2 Solar Project in the city of Tarlac and municipality of Concepcion with a capacity of 293.76 MWp (200MWac).
The company is also constructing a P13.56-billion solar facility with the same power capacity in Balayan and Calaca towns in Batangas province which will be known as the Balayan Solar Power Project.
Commercial operations of the Tarlac 2 and Balayan projects are scheduled to start in January 2019 and February 2020, respectively.
Solar Philippines is putting up two solar facilities in Cavite province, including the P8.64-billion Maragondon-Naic 1 Solar farm in a 168-hectare area within the towns of Naic, Maragondon and Indang and the P8.64-billion Marangondon-Naic Tanza 2 Solar project within a 168-hectare area between Naic and Tanza.
Each will have a capacity of 196 MWp (140 MWac). Both are slated to be operational by October 2018.
It also plans to build the P8.6-billion Sta. Rosa Nueva Ecija 2 Solar project in an area spanning 168 hectares within the towns of Sta. Rosa, Peñaranda and San Leonardo in Nueva Ecija province. It will have a capacity of 193.536 MWp (140 Mwac), with formal operations expected to start January 2020.
Tarlac will soon have two solar facilities, including a P7.08-billion solar facility in Sta. Rosa and Concepcion towns. It is also constructing a P6.9-billion solar farm in the city of Tarlac and municipality of La Paz.
The Sta. Rosa-Concepcion project is slated to be operational by January 2019, while the Tarlac-Lapaz solar farm is seen running by January 2020.
Power generated by these projects will be sold through the Wholesale Electricity Spot Market at competitive prices, the company said.
Solar Philippines said it would hire 243 personnel to operate all these facilities, once operational.
Solar Philippines already operates the first Philippine-owned solar factory in Batangas, which started operations in March 2017.
The factory is expected to ramp up capacity 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.