Launching New Clark City’s largescale solar power plant project

State-run Bases Conversion and Development Authority (BCDA) in March welcomed the participation of local and foreign investors in the bidding for the lease and development of a 37-hectare property in New Clark City into a large-scale solar photovoltaic power plant.

Following policy reforms to ease ownership restrictions on renewable energy (RE) projects in the country, BCDA saw several local and international developers participating in its latest renewable energy project in New Clark City, the large-scale solar power plant project that will be located in the northernmost portion of the rising metropolis.

“Thanks to the efforts of the Marcos administration to implement policy reforms in the energy sector, foreign-owned companies are now able to participate in renewable energy projects in New Clark City without equity restrictions. This will open our bidding process to a diverse pool of competitive players from both the local and international RE industry, helping us accelerate the development of renewable energy sources in New Clark City,” BCDA President and Chief Executive Officer Aileen R. Zosa said.

In November last year, the Department of Energy (DOE) issued Department Circular No. 2022-11-0034, which amended the implementing rules and regulations of Republic Act No. 9513 or the Renewable Energy Act of 2008. This removed the nationality restrictions imposed on businesses engaged in the exploration, development and utilization of renewable energy sources, thereby allowing 100 percent foreign ownership in the industry.

The subject property is being offered on an “as is, where is” basis, with a lease period of 25 years, renewable for another 25 years upon mutual agreement of the parties.

“Rest assured that the BCDA will comply with all relevant procurement laws, rules and regulations to ensure a fair and transparent bidding process,” PCEO Zosa said.—MGCP