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Manila Bulletin devider Business devider Trade & Industry devider BOI greenlights ₱2-billion solar projects to kick off 2026

BOI greenlights ₱2-billion solar projects to kick off 2026

Published Jan 20, 2026 04:29 pm

The Board of Investments (BOI) has approved the registration of two solar power projects with a combined investment of nearly ₱2 billion, as the country charts its course to increasing the share of renewable energy (RE) in the power mix.
In a statement, the BOI said it cleared the proposed Gamu Solar Power Project of Intramuros Solar Energy Corp., which involves an investment of ₱1.99 billion.
The project will be located in the municipalities of Gamu and Naguilian in Isabela, with a capacity of 70.786 megawatts peak (MWp). It is expected to begin commercial operations in April next year.
The BOI also approved the Richbake, Inc. Solar Power Project by PI Energy Inc. in Rosales, Pangasinan, with an investment of around ₱17.42 million.
The project is expected to start operations in March, with a capacity of 0.494 MWp.
Upon registering with the BOI, these projects would benefit from both fiscal and non-fiscal incentives.
Trade Secretary and BOI chairman Cristina Roque said their approval reflects the government’s push to attract more investments in the RE sector as the country accelerates the transition to clean energy.
“We remain focused on mobilizing strategic investments that will generate quality jobs and support long-term energy security for Filipinos,” said Roque.
The two projects are expected to support the Philippine Energy Plan (PEP) 2023–2050, which aims to increase the share of RE in the power generation mix to at least 35 percent by 2030, 50 percent by 2040, and more than 50 percent by 2050.
The BOI said these facilities will help meet the required 984 MW needed to reach the solar capacity target under the PEP’s clean energy scenario by 2050.
With these projects, Trade Undersecretary and BOI managing head Ceferino Rodolfo said they reinforce investors' confidence in the country’s clean energy transition.
Rodolfo added that it also signals a strong start to the year in attracting investments for the RE sector, which remains a top priority for the BOI’s investment promotion activities.
Last year, the BOI endorsed 81 projects valued at a combined ₱1.96 trillion under the green lane program, which expedites processing of permits and licenses for strategic investments. Of which, 74.53 percent were in the RE sector.
The BOI approved the registration of 322 projects last year, amounting to ₱1.56 trillion in investments, down nearly four percent from the record-high ₱1.62 trillion in approvals in 2024.
Of the total, the energy sector accounted for the lion’s share, with ₱970.09 billion, or 62 percent, of approved investments last year.
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