P12.4-B Pampanga solar farm marked as priority program
Solar panels stock image
MANILA, Philippines — The Board of Investments (BOI) granted “green lane” certification to a P12.4-billion solar power facility in Pampanga, further growing the list of renewable energy ventures under the government’s fast-track program for strategic investments.
The lead investment promotion agency of the Department of Trade and Industry (DTI) said it had awarded the certification to Tigon Power Corporation’s solar power projects on Jan. 22.
Bobby Fondevilla, BOI executive director for investments assistance center, issued the green lane certificate of endorsement to Sapang Balen Solar Sustainable Energy Corporation (SBSSEC) officials led by its president and chief executive officer Mayleen Ting.
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SBSSEC is a special purpose vehicle duly registered with the Securities and Exchange Commission, specifically created to develop the solar power project, according to the BOI.
Article continues after this advertisementSBSSEC is the development company of TIGON Power, which was formed in 2021, to hold various renewable energy projects.
Article continues after this advertisement“Currently, Tigon Power has a total project capacity of almost 1 GWp, highlighting its commitment to sustainable power generation in the country,” the BOI said.
According to the BOI, the project is a ground-mounted solar power plant covering a total area of 405.52 hectares.
The facility is targeted to have an installed capacity of 301.580 megawatts DC/246.604 megawatts AC.
“The project is also expected to generate up to 5,000 direct and indirect employment opportunities during its stages of construction, commissioning, operations, and maintenance,” said the BOI.
According to the BOI’s most recent tally, P4.55 trillion worth of investments have been listed under the government’s green lane scheme to date.
The green lane scheme, which was launched back in February 2023 under Executive Order No. 18, is intended to expedite, streamline and automate government approval and registration processes for projects that are deemed as strategic investments.
