The Board of Investments (BOI) has awarded a green lane certificate to Sapang Balen Solar Sustainable Energy Corp. (SBSSEC), a subsidiary of Tigon Power Corp., for a 301.580 MWDC solar power project in Pampanga province. The project, spanning 405.52 hectares, is expected to create up to 5,000 jobs and accelerate the country's transition to sustainable energy. The BOI's One-Stop Action Center for Strategic Investments (OSAC-SI) streamlined the permitting process for strategic investments through the green lane initiative, aiming to boost economic growth and innovation.
Investments Assistance Center executive director Bobby Fondevilla hands over the green lane certificate to Mayleen Ting , president and chief executive of Sapang Balen Solar Sustainable Energy Corp. during an awarding ceremony at the Board of Investments’ main office on Jan. 22, 2025. With them are BOI ’s One Stop Action Center for Strategic Investments staff Bea Castro; BOI OSAC-SI director Ernesto Delos Reyes Jr.
The project is also expected to generate up to 5,000 direct and indirect employment opportunities during its stages of construction, commissioning, operations and maintenance. It is a development company of Tigon Power Corp. formed in 2021 to hold various renewable energy projects. Tigon Power has a total project capacity of almost 1 GWp, highlighting its commitment to sustainable power generation in the country.
BOI Green Lane Certificate Solar Power Project Renewable Energy Investments Assistance Center
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nickel Asia Corp. in Talks to Sell Stake in Coral Bay Nickel Corp.Nickel Asia Corp. (NAC) is in discussions with Sumitomo Metal Mining Co. (SMM) to sell its 15.625% stake in Coral Bay Nickel Corp. (CBNC), a company operating a nickel and cobalt processing plant in the Philippines.
Read more »
BOI Certifies 179 Strategic Projects Worth P4.552 Trillion in One MonthThe Board of Investments (BOI) has certified 179 strategic projects worth P4.552 trillion, including three new renewable energy projects under the green lane services in the span of one month. Renewable energy projects dominate with 144 projects worth P4.15 trillion, followed by digital infrastructure with eight projects worth P352.13 billion. While the manufacturing sector has a smaller share, the BOI emphasizes the significant economic impact and environmental benefits of these certified projects.
Read more »
UNDP and BOI Collaborate to Encourage Sustainable Investments in the PhilippinesThe United Nations Development Program (UNDP) in the Philippines and the Board of Investments (BOI) are partnering to promote sustainable investments in the country. They have developed the Philippine SDG Investor Map, identifying 12 investment opportunities in sectors like climate and health. The initiative aims to attract private sector involvement in the Sustainable Development Goals (SDGs) and address Asia's underrepresentation in impact investing.
Read more »
BOI to Support Masdar's Renewable Energy Projects in the PhilippinesThe Board of Investments (BOI) in the Philippines announced a partnership with UAE-based renewable energy firm Masdar to develop solar and wind energy projects with a combined capacity of up to 1 gigawatt by 2030. This collaboration aims to support the Philippines' Energy Transition Program, which seeks to increase the share of renewable energy in the country's power generation mix.
Read more »
ICTSI's P2.3-Billion Iloilo Port Modernization Project Gets BOI ApprovalThe Board of Investments (BOI) has approved International Container Terminal Services Inc.'s (ICTSI) P2.3-billion seaport modernization project in Iloilo, transforming the old Iloilo Commercial Port Complex into a state-of-the-art facility. The project, part of a 25-year management contract between ICTSI and the Philippine Ports Authority, will receive tax incentives under the CREATE Act. ICTSI's modernization plan includes advanced cargo-handling equipment, IT systems, and enhanced infrastructure to meet international standards. The upgraded port is expected to generate over 3,000 jobs, attract new investments, and boost the Philippines' position as a logistics and trade hub.
Read more »
PTFC Redevelopment Corp. Reports 14.89% Rise in Net IncomePTFC Redevelopment Corp., a listed leasing firm, experienced a 14.89% increase in net income during the first quarter of its fiscal year. This growth was driven by higher occupancy and average lease rates, leading to a 16% rise in revenues.
Read more »