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BOI approves registration of 20-MW solar power project

/ 05:10 AM September 19, 2018

PetroSolar Corp. yesterday said it had secured the registration at the Board of Investments of its 20-megawatt “Tarlac-2” project.

“With BOI’s award of the incentives registration for our Tarlac-2 project, PetroSolar is closer to securing the confirmation of commerciality from the Department of Energy (DOE) needed for project construction to begin,” PetroSolar president Milagros V. Reyes said in a statement.

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“We are excited by this new investment which will see our solar asset increase in capacity from 50 MW to 70 MW,” Reyes said.

The Tarlac-2 project is an addition to the 50-MW Tarlac-1 solar power plant owned and operated by this joint venture of PetroGreen Energy Corp. (PGEC) and EEI Power Corp.

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PGEC is the renewable energy holding unit of publicly listed PetroEnergy Resources Corp.

Tarlac-1 started commercial operations in February 2016 as one of the early qualifiers in the government’s solar feed-in-tariff program.

Aside from the Tarlac solar facilities, PGEC also owns and operates with other partners and operating units the 32-MW Maibarara geothermal project in Batangas and the 36-MW Nabas wind farm in Aklan.

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TAGS: 20-megawatt “Tarlac-2” project, Board of Investments, PetroSolar Corp.
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