MVP’s Terra Solar gets green lane from BoI

The massive solar project of business mogul Manuel V. Pangilinan in Bulacan and Nueva Ecija has earned the green lane certification of the Board of Investments (BoI), an attached agency of the Department of Trade and Industry (DTI) tapped to fast-track the strategic investments in the country.

The BoI, in a statement on Tuesday, said the Terra Solar Project by Terra Solar Philippines, Inc. (TSPI), with a project evaluation cost of P185 billion, earned Green Lane Certification last 5 August.

TSPI is deemed a groundbreaking initiative, set to become the world's largest solar project, visible from space.

BoI managing head and Trade Undersecretary Ceferino Rodolfo announced that the project has also been approved for registration under the BOI, highlighting a whole-of-government approach to supporting this endeavor.

Priority pillar

The effort supports one of the priority pillars of DTI-OIC Secretary Cristina Roque, on bolstering trade and investment in the country by addressing Ease of Doing Business issues.

It also underscores the continuity of DTI policies and programs initiated by former Secretary Alfredo Pascual.

TSPI, a subsidiary of SP New Energy Corporation (SPNEC) and MGen Renewable Energy Inc. (MGreen), the renewable energy unit of Meralco PowerGen Company (MGen), aims to generate 3,500 megawatts (MW) of solar power with a 4,500 megawatt-hour (MWh) battery energy storage system.

Spanning 3,500 hectares across Nueva Ecija and Bulacan, the Terra Solar Project is poised to revolutionize the renewable energy sector in the Philippines.

In his message, Undersecretary Rodolfo expressed his gratitude to TSPI and MGen for championing projects that support the transformation of the country’s economy.

“The basic objective of the Philippines now under this administration is not just to grow — we are already the fastest-growing economy in the region — but more importantly to transform the Philippine economy into a smart and sustainable hub for manufacturing and services, and exactly supporting that would be the sectors and industries that you are investing in,” he said.

Two-phased project

The project, which will be executed in two phases, is a pioneering Solar PV + BESS project that was awarded an 850MW Mid-Merit Power Supply Agreement (PSA) from Meralco.

Phase One will generate 600MW, with Phase Two increasing output to 850MW, adhering to the PSA requirements.

The project’s specifications include 3,500MWp of Solar PV capacity (2,500MWac), a fixed tilt mounting structure, a 4,000MWhr to 4,500MWhr BESS, power evacuation/grid connection at 500kV to NGCP capable of handling 2,500MW, 13 KM of 500kV transmission line, and integrated data and SCADA systems.

The PSA likewise mandates the plant, upon completion, to supply 850MW of power from 08:00 to 21:00 from Monday to Saturday and 08:00 to 14:00 on Sunday.

MGen president and CEO Emmanuel Rubio shared that the Terra Solar Project marks a crucial milestone for the company and expressed his enthusiasm for the potential of renewable energy and the positive impact it will have on communities, the economy, and the environment.

“Having the Green Lane Certificate is a testament to our commitment to excellence, innovation, and environmental stewardship. It’s also a recognition of our collective efforts to prioritize and fast track projects that will accelerate the country's low carbon transition — and this one is expected to deliver by February 2026,” he said.

“We are grateful for the support extended by BoI. Without them on board this achievement would not have been possible,” he added.

Energy-independent future

Meanwhile, MGreen President and CEO Dennis Jordan shared his optimism for the country’s pursuit of a more energy-independent future, emphasizing the company’s commitment to projects that balance economic progress and sustainability.

“Today, we not only celebrate Terra Solar Project’s potential, but we also are advancing our nation's renewable energy objectives and reaffirming our unwavering dedication to environmental preservation and responsible development,” he said.

“More than a recognition, the Green Lane certification stands as a testament to MGreen’s dedicated pursuit of pioneering projects (hybrid and solar battery) that synergize economic growth and ecological preservation,” he added.