Philippine regulatory authorities clear USD-36m solar project in Luzon
- The Philippine Board of Investments (BOI) has okayed to the building of a PHP-2-billion (USD 35.6 m/EUR 34.7 m) solar park on the archipelago's largest island of Luzon, the government announced on Wednesday.
The project was advanced by domestic programmer PAVI Green Renewable Energy Inc as well as is aimed at assisting the island satisfy the expanding demand for electrical energy. The capacity is intended to end up being operational in February 2024.
"As the Philippines is heading in the direction of a greener and also modern economic situation, projects similar to this one is consequential for the attainment of the economic objectives of the nation," claimed Ceferino Rodolfo, Trade Undersecretary and also BOI supervisor.
The project imagines the release of monocrystalline photovoltaic panels and also string inverters in the city of Naga. On the economic side, it is planned to open up 554 new jobs throughout the building and construction phase.
The execution of the scheme is seen to help the Philippines with its strategy to add 73.8 GW of renewable power generation capacity so regarding fulfill the national objective of having 81.5 GW of renewable nuclear power plant in operation by 2040.
