The Board of Investments (BOI), through its One-Stop Action Center for Strategic Investments (OSACSI), granted a green lane certificate for one of Tigon Power Corp.’s solar power projects that will soon rise in Mabalacat City and Magalang town in Pampanga province.
BOI executive director of the Investments Assistance Center Bobby Fondevilla awarded the green Lane certificate of endorsement to Sapang Balen Solar Sustainable Energy Corp. (SBSSEC) officials led by president and chief executive Mayleen Ting during a brief awarding ceremony at the BOI main office on Jan. 22, 2025.
The project is a ground-mounted solar power plant over an area of 405.52 hectares, with a target installed capacity of 301.580 MWDC/246.604 MWAC.
The project is also expected to generate up to 5,000 direct and indirect employment opportunities during its stages of construction, commissioning, operations and maintenance.
SBSSEC is a special purpose vehicle (SPV) duly registered under the Securities and Exchange Commission (SEC), specifically created to develop the solar power project.
It is a development company of Tigon Power Corp. formed in 2021 to hold various renewable energy projects. Tigon Power has a total project capacity of almost 1 GWp, highlighting its commitment to sustainable power generation in the country.
OSAC-SI will continuously monitor the actions taken by agencies on applications for permits and licenses and shall submit a report accordingly.
The green lanes, established through Executive Order No. 18 in February 2023, aims to speed up and simplify the permit and licensing processes for strategic investments, driving economic growth and innovation in the Philippines.
The BOI OSACSI has endorsed 179 strategic investments, amounting to P4.55 trillion as of Jan. 17, 2025. These projects were mostly activities relating to renewable energy, food security, digital infrastructure and manufacturing industries.
