MANILA, Jan. 29 (Xinhua) -- The Philippine Board of Investments has granted the green lane certificate for the floating solar power project that will soon rise in Nueva Ecija province, north of Manila, the Department of Trade and Industry (DTI) said on Monday.
The Fuego Renewable Energy Corp. (FREC) will build the Pantabangan Floating Solar Power Plant, a 463.995 megawatts (MWac) floating solar photovoltaic (PV) project with an initial investment of 22.6 billion pesos (over 400 million U.S. dollars).
Spanning 500 hectares on Pantabangan Lake, the project is scheduled for commissioning in 2025, with its energy output destined for export to the national grid. It is within the Pantabangan-Carranglan Watershed Forest Reserve. The location of the transmission lines and other facilities onshore will fall under the protected area/watershed classification.
The DTI said the project will benefit Filipinos, generating up to 2,000 temporary and permanent direct job opportunities during the construction, commissioning, operations, and maintenance. ■
