BOI approves registration of 20-MW solar power project

By: Ronnel W. Domingo - 05:10 AM September 19, 2018

https://business.inquirer.net/257491/boi-approves-registration-20-mw-solar-power-project

PetroSolar Corp. yesterday said it had secured the registration at the Board of Investments of its 20-megawatt “Tarlac-2” project.

“With BOI’s award of the incentives registration for our Tarlac-2 project, PetroSolar is closer to securing the confirmation of commerciality from the Department of Energy (DOE) needed for project construction to begin,” PetroSolar president Milagros V. Reyes said in a statement.

 “We are excited by this new investment which will see our solar asset increase in capacity from 50 MW to 70 MW,” Reyes said.

The Tarlac-2 project is an addition to the 50-MW Tarlac-1 solar power plant owned and operated by this joint venture of PetroGreen Energy Corp. (PGEC) and EEI Power Corp.

PGEC is the renewable energy holding unit of publicly listed PetroEnergy Resources Corp.

Tarlac-1 started commercial operations in February 2016 as one of the early qualifiers in the government’s solar feed-in-tariff program.

Aside from the Tarlac solar facilities, PGEC also owns and operates with other partners and operating units the 32-MW Maibarara geothermal project in Batangas and the 36-MW Nabas wind farm in Aklan.