1 month ago
9
The Board of Investments (BOI) has granted a green lane certificate to Sapang Balen Solar Sustainable Energy Corp. (SBSSEC), a subsidiary of TIGON Power Corp.
The BOI said in a statement that the solar power project, located in Mabalacat City and Magalang Municipality, is expected to accelerate the country's transition to cleaner energy sources.
The ground-mounted solar power plant will span 405.52 hectares and is projected to create up to 5,000 direct and indirect jobs during construction, commissioning, operation, and maintenance.
SBSSEC, established in 2021, is a special purpose vehicle (SPV) under the Securities and Exchange Commission (SEC) specifically formed to manage this project.
Tigon Power Corporation, the parent company, has a total project capacity of nearly 1 gigawatt peak (GWp), demonstrating its commitment to renewable energy development. The BOI's One-Stop Action Center for Strategic Investments (OSACSI) will monitor the project's permit and licensing process.
Executive Order No. 18, issued in February 2023, established the Green Lanes to streamline permit and licensing procedures for strategic investments.
As of January 17, 2025, the BOI OSACSI has endorsed 179 strategic investments totaling ₱4.55 trillion, primarily in renewable energy, food security, digital infrastructure, and manufacturing.
