THE Board of Investments (BoI) said it approved the registration of two renewable energy (RE) projects worth a combined P2 billion in Isabela and Pangasinan.
“RE remains a top priority sector for investment promotion,” Trade Undersecretary and BoI Managing Head Ceferino S. Rodolfo said in a statement on Tuesday.
“These approvals signal a strong start for 2026 in terms of investment generation, particularly in the RE sector, and reinforce investor confidence in the Philippines’ clean energy transition,” he added.
The BoI greenlit the P1.99-billion Gamu Solar Power Project of Intramuros Solar Energy Corp. in the municipalities of Gamu and Naguilian, Isabela.
With an expected capacity of 70.786 megawatts (MW) peak, the project is set to begin commercial operations in March.
The other project was the P17.42-million Richbake, Inc. Solar Power Project in Pangasinan.
To be developed by PI Energy, Inc., the solar project will have a 0.494-MW peak capacity and begin operations by March.
“These projects support the Philippine Energy Plan 2023-2050, which aims to increase the share of renewable energy in the power generation mix to at least 35% by 2030, 50% by 2040, and more than 50% by 2050,” the BoI said.
“Once operational, the two solar facilities will contribute to meeting the additional capacity requirement of 984 MW needed to achieve the targeted 694 MW of installed solar capacity under the Clean Energy Scenario by 2050,” it added.
Meanwhile, the BoI is expecting the registration of more RE projects after it endorsed 81 projects worth P1.96 trillion for green lane treatment.
Of the 81, 74.5% were in the RE sector, which is expected to generate over 163,000 jobs.
Since February 2023, 232 projects have been endorsed for green-lane treatment, which makes them eligible for expedited processing. These are projected to generate P6.11 trillion in investments and 398,567 jobs. — Justine Irish D. Tabile
