The Board of Investments approved the registration of PAVI Green Renewable Energy Inc. for its P2-billion Naga Solar Power Plant Project.
The BOI approved the project under Tier I of the 2020 Investment Priorities Plan and the special laws of the 2022 Strategic Investment Priorities Plan.
BOI managing head Ceferino Rodolfo said the DTI has increasing bias to green projects because of their positive impact on the economy. “Also, the solar power plant project of PAVI Green will play a crucial role in building up the capacity needed to sustain electricity demand in Luzon, ensuring an unhampered supply of power to consumers,” he said.
The project aims to go on stream by February 2024. It will contribute 73,868 megawatts to the National Renewable Energy Program target of 81,485 MW total installed capacity by 2040 under the Clean Energy Scenario.