The Board of Investments (BOI) has approved the application for registration of PAVI Green Renewable Energy Inc. for its P2-billion Naga solar power plant project as a new renewable energy developer of solar energy resources to meet the increasing electricity demand of Luzon.
The project, which was approved under Tier I based on the 2020 IPP Listing “Special Laws (Renewable Energy Act of 2008) of the 2022 Strategic Investment Priority Plan is expected to start commercial operations in February 2024.
Ceferino Rodolfo, BOI managing head, said the solar power plant project of PAVI Green will play a crucial role in building up the capacity needed to sustain electricity demand in Luzon, ensuring an unhampered supply of power to consumers.
Rodolfo said the project will contribute to the required capacity addition of 73,868 MW that is needed to meet the National Renewable Energy Program target of 81,485 MW for the total installed capacity by 2040 under the Clean Energy Scenario.
The project will generate 554 jobs during its construction and 21 jobs during its commercial operations. It will use the latest technology in the market through the use of monocrystalline solar panels and string inverters. – Irma Isip
