The Board of Investments (BoI) has registered a P4.15-billion solar power project of Pilipinas Newton Energy Corp. in Pangasinan.
The BOI said the company’s San Manuel 1 Solar Power Project would be located on a 70-hectare land in San Manuel, Pangasinan.
The solar energy facility will use fixed photovoltaic (PV) modules and has a capacity of 68.7 megawatts (MW), which will be sold to distribution utilities and/or the National Grid Corp. of the Philippines, through a power supply agreement, and/or the Wholesale Electricity Spot Market.
The commercial operation of the facility is expected to start in June 2018, employing 27 personnel.
BoI managing head Ceferino Rodolfo has welcomed the project as the government targets to increase the country’s renewable energy supply to 15,304 MW by 2030 under the National Renewable Energy Program (NREP).
“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,” 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,” he added.
Data from the Department of Energy (DoE) showed that renewable energy accounted for 34.3 percent of the total installed power capacity in 2016.
DoE data also showed that there were 755 approved renewable energy projects with a potential capacity of 16,949 MW.
Of the total prospective capacity from these 755 renewable energy projects, 4,522 MW were installed last year.