THE Board of Investments (BoI) said it is making presentations about two major solar projects at a conference in Spain, to potential “impact-driven partners.”
“At the (conference) in Seville, the BoI will spotlight investor-ready renewable energy projects and engage with impact-driven partners, as it positions the Philippines as a prime destination for sustainable and inclusive investment,” the BoI said in a social media post.
In particular, the BoI will present the 76.65-megawatt Isabel Solar Project in Leyte and the 49.9-megawatt Libmanan Solar Project in Camarines Sur.
Proposed by Zenith Renewable Energy Corp. (ZREC), the ground-mounted Libmanan Solar Project is estimated to cost $33 million.
“ZREC is seeking $28 million in equity funding in exchange for an 85% ownership stake in the project,” BoI said.
Colombia, Costa Rica, Malawi, Pakistan, Paraguay, Papua New Guinea, Tanzania, and Ethiopia are also pitching bankable energy projects at the conference.
The conference is known as the 4th International Conference on Financing for Development and runs until July 3. It is billed as a platform for mobilizing private finance and investment for sustainable development.
The conference gathers participants from government, international, and regional organizations; financial and trade institutions; businesses; civil society; and the UN System.
In a separate statement, the BoI said it completed the Cebu and Davao legs of the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act Roadshow.
During the roadshow, Mariane Genelou S. Reyes, chief investments specialist at the BoI’s Research and Policy Division, also presented an overview of the Strategic Investment Priority Plan (SIPP).
According to Ms. Reyes, the BoI has approved P3.38 trillion worth of investments since the SIPP took effect in June 2022 until December 2024.
“The top-performing sectors included renewable energy, which accounted for P2.58 trillion; digital infrastructure (P295.14 billion); and logistics and supply chain-related investments (P168.24 billion),” she said.
“These figures demonstrate the country’s strong positioning to attract high-value, sustainable, and forward-looking investments,” she added. — Justine Irish D. Tabile