(L-F): Terra Solar Project Manager Mark Argar, MGreen President and CEO Dennis B. Jordan, MGEN President and CEO Emmanuel V. Rubio, Meralco Chairman Manny V. Pangilinan, DTI Usec. Ceferino S. Rodolfo, BOI Gov. Marjorie O. Ramos-Samaniego, BOI Exec. Dir. Bobby G. Fondevilla, BOI Dir. Ernesto C. Delos Reyes
In line with the Philippine government’s thrust for a more diversified and balanced energy mix to address the nation’s energy security concerns, the Board of Investments (BOI) has given MGEN Renewable Energy, Inc. (MGreen), the renewable energy arm of Meralco PowerGen Corporation (MGEN), a Green Lane Certificate of endorsement for its Terra Solar Project last August 5, 2024.
The Terra Solar project situated in Bulacan and Nueva Ecija pioneers a 3,500 MWp solar power capacity and 4,500 MWh Battery Energy Storage System (BESS). The project is set to become the largest contiguous solar power plant in the world.
The project supports the government’s goal of gradually increasing the proportion of renewable energy in the country’s overall power generation mix to 35% by 2030 and 50% by 2040.
Emmanuel V. Rubio, President and CEO of MGEN, stated that receiving the Green Lane Certificate for the Terra Solar project underscores MGEN’s commitment to excellence, innovation, and environmental stewardship. He said the certificate also highlights the collective efforts in prioritizing projects that not only accelerate the country’s low-carbon transition but is also in tune with government’s drive to ensure energy security.
“Moving from conventional to renewable energy requires more than just a paradigm shift, a change in mindset. It requires collaboration between the public and private sectors to drive the development of green energy projects.
We are grateful for the support extended by the BOI and DTI. Without them on board, this achievement would not have been possible,”
– Emmanuel V. Rubio
Trade Undersecretary and BOI Managing Head Ceferino S. Rodolfo emphasized that the government, following Executive Order 18, is fully committed to green projects like Terra Solar. He also revealed the board approval of the project’s registration under the BOI, reinforcing the government’s all-out commitment to the Terra Solar Project across all levels.
Dennis B. Jordan, President and CEO of MGreen, thanked the BOI for their unwavering support and leadership in championing green investments.
“More than a recognition, the Green Lane Certification stands as a testament to our dedicated pursuit of pioneering projects that synergize economic growth and ecological preservation,”
“This project brings forth the benefits of producing clean, sustainable energy whilst generating employment opportunities, promoting economic growth, and enriching the quality of life in our communities,”
– Dennis B. Jordan
The awarding of the Green Lane Certificate comes after the Terra Solar Project received a Certificate of Energy Project of National Significance (CEPNS) from the Department of Energy (DOE) last 23 July 2024. The project is set to be completed in two phases: the first phase is expected to finish in February 2026 and the second phase in 2027.
MGen is a wholly owned subsidiary of publicly listed power company, Manila Electric Company (Meralco). It owns and operates Global Business Power Corporation and MGreen, focused on using advanced and highly efficient technologies that enables it to provide reliable and cost-competitive power supply to its customers.