The Philippines has approved P2 billion in new solar energy investments as the government accelerates its transition toward a cleaner power mix, the Board of Investments said Tuesday.
The BOI said it cleared two projects that signal a strong start for investment generation in 2026. The move aligns with the Philippine Energy Plan that targets a renewable energy share of 35 percent by 2030 and 50 percent by 2040.
It said the largest project is for the P1.99-billion Gamu Solar Power Project by Intramuros Solar Energy Corp. The facility, which has a capacity of 70.786 megawatts peak, is located in Isabela province and is expected to begin commercial operations in April 2027.
A smaller project by PI Energy Inc. involves a P17.42-million investment for the Richbake Inc. Solar Power Project in Pangasinan. The facility has a capacity of 0.494 megawatts peak and is scheduled to start operations in March 2026.
Trade Secretary and BOI chairman Cristina Roque said the projects demonstrate the administration’s commitment to expanding investments and accelerating the clean energy transition.
She said the government remains focused on mobilizing strategic investments to generate quality jobs and support long-term energy security.
The two facilities will help the country meet an additional capacity requirement of 984 MW needed to reach solar targets under the government’s clean energy scenario for 2050.
BOI managing head and Trade Undersecretary Ceferino Rodolfo said renewable energy remains a top priority sector.
He said these approvals reinforce investor confidence in the nation’s energy transition.
The agency reported that it certified P1.96 trillion worth of investments under its green lane for strategic investments in 2025.
Renewable energy accounted for 74.53 percent of the 81 projects approved last year, which are expected to create more than 163,000 jobs.
