In a statement on Wednesday, the BoI said that the project is expected to begin commercial operations by February 2024.
“The project will contribute to the required capacity addition of 73,868 megawatts 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,” it added. According to the BoI, the power demand in Luzon will continue to climb due to the country’s sustained economic growth.
Meanwhile, the BoI said that the solar power plant project also helps the country’s objective of pursuing green projects, as it will release less greenhouse gas emissions into the atmosphere.
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