Manila Times.net
THE Board of Investments (BOI) granted tax incentives and other perks to a renewable energy project in Southern Luzon. A BOI document showed that the incentives-giving agency has approved the registration of PetroEnergy Resources Corp.’s (PERC) P2.8-billion 20-megawatt (MW) geothermal power plant that would rise at Mount Makiling, which straddles Calamba City, Laguna and Santo Tomas, Batangas.Dubbed Maibarara Geothermal Power Project, it was awarded perks under Republic Act 9513 or the Renewable Energy Act of 2008.
“The generated electricity will be delivered to the firm’s client via the National Grid Corporation of the
Philippines starting at P5 per kilowatt-hour on the first year upon the Energy Regulatory Commission’s approval,” the BOI said.
Commercial operations would begin in October 2013. Eighty-two people would be employed.
PERC had also sought BOI incentives for its wind energy projects in Sual, Pangasinan and Nabas, Aklan.
BEN ARNOLD O. DE VERA
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