THE Board of Investments (BoI) said it endorsed Pacific Impact Energy Corp.’s (PIEC) solar power project in Sual, Pangasinan for green-lane treatment.
In a statement on Thursday, the BoI said it has awarded a green-lane certificate for the company’s 61.551-megawatt-peak Capantolan Solar Power Project, making the developer eligible for the expedited permit process.
“The solar power project has also been registered with the BoI, reinforcing its strategic importance and eligibility for investment incentives,” the BoI said.
“Once operational, the project will deliver clean and renewable energy (RE) to support the country’s transition to a sustainable energy future, enhance energy security, and contribute to the attainment of the Philippine RE targets,” it added.
The BoI said it will help facilitate the smooth implementation of the Capantolan project by coordinating with national and local government agencies on permitting and regulatory concerns and ensuring that the project receives support.
The project is expected to create 400 jobs in engineering, supply, transportation, and related fields and maintain long-term operational roles for plant engineers, operators, and support staff.
It is also expected to lower electricity costs, strengthen energy independence, and promote environmental sustainability.
“We’re actively developing clean energy projects across Southeast Asia, but the Philippines stands out as one of the most supportive environments for RE investment,” according to James Timko, managing director of Pacific Impact Development.
“With the green-lane framework, the Philippines offers an ecosystem for enabling infrastructure. This is exactly the kind of program we look for when scaling climate-aligned energy solutions,” he added.
The Capantolan project adds to PIEC’s clean-energy ventures in the Philippines, joining the Albay Wind Power Project in Ligao and the Malasiqui Solar Power Project, also in Pangasinan.
“These projects collectively demonstrate PIEC’s strategic approach to building a comprehensive clean energy portfolio that will significantly contribute to the nation’s RE infrastructure,” the BoI said.
By the end of July, the BoI-One-Stop Action Center for Strategic Investments had certified 208 projects for green-lane treatment, worth a combined P5.478 trillion, of which 162 of P5.027 trillion are in the RE sector. — Justine Irish D. Tabile