Incentives approved for P4.1-B solar project

THE Board of Investments (BoI) has approved a P 4.15-billion solar power project that is expected to boost the country’s supply of renewable energy, the Trade department said.

In a statement on Wednesday, the department said Pilipinas Newton Energy Corp.’s project in San Miguel, Pangasinan, had Investment Priorities Plan’s special laws list.

The solar project, which will to generate electricity with a peak capacity of 68.7 megawatts (MW), is expected to be completed by June next year.

All power generated will be sold to distribution utilities and/ or National Grid Corp. of the Phils. through power supply agreements or the Wholesale Electricity Spot Market.

The project’s location in barangays San Bonifacio and San Roque - ricultural land with no irrigation and most of the area is considered grassland under the municipality’s comprehensive land use plan.

Factors that favored the site were its accessibility, proximity to the transmission tapping point, absence of tenants, availability of additional area for expansion and good topography, the Trade department said.

“The demand for power will continue to increase due to the ongoing industrialization in the country as it fuels the infrastructure expansion and the growth of the manufacturing industry,” Trade Undersecretary and BOI managing head Ceferino Rodolfo said.

“At the same time, we are already transitioning towards using more renewable energy in response to climate change as part of our National Renewable Energy Program (NREP),” he added.

The Trade department said that based on Energy department data, renewable energy plants

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