Several energy projects earned Green Lane status, boosting the country’s renewable energy sector, the Board of Investments said on Tuesday.
Through its One-Stop Action Center for Strategic Investments, the BoI granted a green lane certificate to Burgos Pangasinan Solar Energy Corporation or BPSEC for its P2.7-billion solar power project that will soon rise in Burgos municipality, Pangasinan.
DTI Undersecretary and BoI managing head Ceferino Rodolfo handed the Green Lane Certificate of Endorsement to BPSEC officials led by its Representative, Kyle Mina, during a brief awarding ceremony at the BoI Main Office last 31 January 2024.
Expected to operate in September 2026, the project is a ground-mount solar power plant over an area of approximately 71.5 hectares with a target installed capacity of 65 MWp or 50 MWac.
The firm’s activity was awarded the Solar Energy Operating Contract by the Department of Energy in December 2023, which supports the DoE’s national target of 35 percent renewable energy share in the power generation mix by 2030.
Socio-economic impact
Providing socio-economic impact during its construction and operations, the project is projected to generate over 500 jobs for Filipinos.
The BPSEC is a Special Purpose Vehicle, duly registered under the Securities and Exchange Commission, specifically created to develop the solar power project.
It is a development company of Rising Renewables Holdings Inc., a registered Filipino RE platform focused on initiating and developing high-quality RE assets for both foreign and local investors.
Geothermal projects
Meanwhile, Rodolfo also awarded Green Lane Certificates of Endorsement to the Philippine Geothermal Production Company Inc. or PGPC, and the Pan Pacific Power Phils. Corp. or PPPPC for various geothermal projects.
The Green Lane Certificates awarded to PGPC are for the following geothermal projects: Daklan Geothermal Power Project in Benguet with an estimated 51-MW capacity; Mt. Labo Geothermal Power Project in Quezon, Camarines Norte and Camarines Sur with an estimated 105 MW capacity; and Mt. Malinao Power Project in Camarines Sur and Albay with estimated 50 MW capacity.
In particular, the estimated project costs for the three geothermal power projects are P6.66 billion for Daklan, P7.580 billion for Mt. Labo and P5.030 billion for Mt. Malinao.
These projects are projected to generate a total of 1,500 jobs from exploration and development, and well drilling to commercial operations, which will be beneficial to Filipino workers.
PGPC is a Filipino corporation and a subsidiary of SM Investments Corporation, which operates the Tiwi and Mak-Ban Geothermal Steam Fields. The company and its predecessors ushered in the birth of the Philippine geothermal industry in 1971.
Green Lane certificates
Also, a Green Lane Certificate was granted to the Baua-Sikaw Geothermal Power Project of PPPPC, which will soon operate in the Municipalities of Lal-lo, Gonzaga and Sta. Ana in Cagayan Province.
With a total project cost of P689.9 million during the 7-year exploration period of its contract, the project itself is projected to produce 61 megawatts.
The Baua-Sikaw project will employ Filipinos for the duration of its contract as it aims to generate more than 500 job opportunities.
In addition, as it continues its commitment to provide clean and renewable energy sources to meet the country’s growing energy needs, the company has other new projects in the pipeline.
From 2021 to 2026, the Philippines aims to increase its geothermal power generation capacity by 91 MW.
Currently, there are 19 potential locations in the exploration stage. In 2020, the Department of Energy, in formulating the 2020–2040 National Renewable Energy Program targets, proposed an additional capacity of 777.6 MW based on the awarded contracts.