Power facility gets tax perks

Business Mirror

14 Jan 2014 

 

Written by Lenie Lectura

THE P1.9-billion solar power project of San Carlos Solar Energy Inc. (SaCaSol) secured incentives from the Board of Investments (BOI).

The power facility, which will start commercial operations in the second quarter, will enjoy a seven-year income-tax holiday and duty-free importation of renewable machinery, equipment and materials, including communication equipment, within the first 10 years from issuance of the said privileges provided under the Renewable Energy Act of 2008, Republic Act 9513.

The 22-megawatt solar power project is situated on a 35-hectare site within the San Carlos Economic Zone in Negros Occidental.

The facility is expected to provide approximately 31,610,473 kilowatt-hours  of electricity annually to the Visayas grid.  

Development is divided in two phases. The first phase will involve the construction of a 13-MW facility while the second phase features a 9-MW expansion project.

The company has tapped Germany-based Conergy AG to supply 22 solar power inverters and 88,000 photovoltaic modules that will be used in the plant.

SaCaSol is a renewable energy project being developed by Bronzeoak Philippines Inc. and ThomaLloyd Group.   source