BOI oks 2 N. Luzon renewable energy projects

The Board of Investments (BOI) has approved two renewable energy projects in northern Luzon worth nearly P2 billion, adding to the agency’s growing pipeline in its top investment sector.

Of the two, the larger project is the Gamu Solar Power Project of Intramuros Solar Energy Corp., which involves a P1.99-billion investment and will have a peak capacity of 70.79 megawatts (MWs).

This facility will straddle the municipalities of Gamu and Naguilian in Isabela. It is expected to begin commercial operations by April 2027.

The second project, Richbake Inc. Solar Power Project of Pi Energy Inc., involves a P17.42-million investment and will have a peak capacity of 0.49 MWs.

Located in Rosales, Pangasinan, the project is scheduled to start commercial operations in March.

“Renewable energy remains a top priority sector for investment promotion,” said Trade Undersecretary Ceferino Rodolfo, managing head at BOI. “These approvals signal a strong start for 2026 in terms of investment generation, particularly in the [renewable energy] sector, and reinforce investor confidence in the Philippines’ clean energy transition.”

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The BOI said the projects aligned with the Philippine Energy Plan through 2050, which seeks to raise the share of renewable energy in the power generation mix to 35 percent by 2030, 50 percent by 2040 and more than 50 percent by 2050.

“Once operational, the two solar facilities will contribute to meeting the additional capacity requirement of 984 MW needed to achieve the targeted 694 MW of installed solar capacity under the Clean Energy Scenario by 2050,” the agency said.