BOI grants incentives to P2 billion solar projects

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January 21, 2026 | 12:00am

MANILA, Philippines — The Board of Investments (BOI) has approved the registration of two solar power projects with total investments amounting to around P2 billion.

In a statement yesterday, the BOI said the approved projects include the P1.99-billion Gamu Solar Power Project of Intramuros Solar Energy Corp., which will have a capacity of 70.786 megawatts peak (MWp).

Located in the municipalities of Gamu and Naguilian in Isabela, the project is expected to start commercial operations in April 2027.

Also approved was the P17.42-million Richbake Inc. Solar Power Project of PI Energy Inc., with a capacity of 0.494 MWp in Rosales, Pangasinan.

The project is targeted to begin commercial operations in March this year.

Renewable energy (RE) projects registered with the BOI can enjoy incentives including income tax holidays and duty-free importation of capital equipment.

Trade Secretary and BOI chair Cristina Roque said the two solar projects support the government’s aim to expand investments and promote the clean energy transition.

“We remain focused on mobilizing strategic investments that will generate quality jobs and support long-term energy security for Filipinos,” she said.

Under the Philippine Energy Plan 2023–2050, the aim is to increase the share of RE in the power generation mix to at least 35 percent by 2030, 50 percent by 2040 and over 50 percent by 2050.

The two solar projects are expected to help meet the additional capacity requirement of 984 MW to achieve the targeted 694 MW of installed solar capacity under the Clean Energy Scenario by 2050.

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

Last year, the BOI certified P1.96 trillion worth of investments under the green lane initiative for expedited processing of permits.

Of these certified investments, RE accounted for the bulk or 74.53 percent.

RE projects certified for green lanes last year are expected to create more than 163,000 jobs nationwide.