BOI approves P35.4 B renewable power projects

The Board of Investments (BOI) has approved four renewable energy projects totaling P35.4 billion in support of the administration’s efforts to address the power requirements of its ongoing infrastructure buildup program.

Three of the projects will be undertaken by Currimao Solar Energy Corp. which include a P4.74 billion Talisay wind power project in Camarines Norte, a P14.6 billion Talim wind power project in Rizal, and the P15.3 billion Calatagan wind project in Batangas.

VS Gripal Power Corp.’s P777 million biomass power plant in Nueva Ecija also got the BOI’s nod.

The BOI said these projects qualified for incentives under the Renewable Energy Act No. 9513 which is covered under the special laws list of the 2017 investment priorities plan.

“Since the ongoing infrastructure program involves construction and modernization of airports, building of more roads, railroads and transport networks all over the country, demand for power continues to go up.

In the long run, additional power is also needed to usher the growth of other industries as they undergo their own expansion and modernization,” BOI managing head Ceferino Rodolfo said.

According to the BOI, the VS Gripal project involves the development, construction, and operation of a six megawatt biomass power plant in San Jose City, Nueva Ecija which is scheduled to start commercial operations in December 2019.

Currimao’s 50.4 MW Talisay wind power project, meanwhile, will rise on a 162 hectare-area in the municipalities of Labo, Vinzons, and Talisay in the province of Camarines Norte.

The Talim and Calatagan wind power projects, meanwhile, will have a capacity of 151.2 MW each.

Both Talisay and Calatagan projects are expected to be operational by September 2020, while the Talim project is set to commence operations by September 2019.

Renewable energy accounted for 7,038 MW of installed capacity in the country as of June 2017, representing a third of the national capacity of 21,621 MW, according to data published by the Department of Energy.