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P2.7-B Solar Power Project in Pangasinan receives Green Lane Endorsement from BOI

Trade Undersecretary and BOI Managing Head Ceferino S. Rodolfo (4th from L) awarded the Green Lane Certification to Mr. Kyle A. Mina, Representative of BPSEC and President, Rising Renewables Holdings, Inc. (5th from L), at the BOI Head Office in Makati City.

By DTI-Board of Investments
February 13, 2024

MAKATI CITY – Boosting the renewable energy sector in the Philippines, the Board of Investments (BOI), through its One-Stop Action Center for Strategic Investments (OSACSI), granted a green lane certificate for a solar power project that will soon rise in the Municipality of Burgos, Pangasinan.

DTI Undersecretary and BOI Managing Head Ceferino S. Rodolfo handed the Green Lane Certificate of Endorsement to Burgos Pangasinan Solar Energy Corporation (BPSEC) officials led by its Representative, Mr. Kyle A. Mina, during a brief awarding ceremony at the BOI Main Office on January 31, 2024.

Expected to operate in September 2026, the project is a ground-mount solar power plant over an area of approximately 71.5 hectares with a target installed capacity of 65 MWp or 50 MWac.

The firm’s activity was awarded the Solar Energy Operating Contract by the Department of Energy (DOE) in December 2023, which supports the DOE’s national target of 35% renewable energy (RE) share in the power generation mix by 2030.

Providing socio-economic impact during its construction and operations, the project is projected to generate over 500 jobs for Filipinos.

BPSEC is a Special Purpose Vehicle (SPV), duly registered under the Securities and Exchange Commission (SEC), specifically created to develop the solar power project. BPSEC is a development company of Rising Renewables Holdings, Inc. (RRHI), a registered Filipino RE platform focused on initiating and developing high-quality RE assets for both foreign and local investors.

“We would like to thank the BOI for extending their support to the Burgos Pangasinan Solar Power Project with the grant of the Green Lane Endorsement. With the BOI’s support, we look forward to collaborating with all the concerned local and national agencies in the completion of the project’s permitting requirements and in achieving our shared goal of getting more clean energy into the grid as early as we can,” said Mr. Mina.

OSAC-SI will coordinate with the local officials of the Province of Pangasinan to endorse the project to facilitate its permitting and licensing processes at the local level.