MANILA – Some PHP244.26 billion worth of renewable energy (RE) projects have been endorsed by the Board of Investments (BOI) for faster processing of requirements in national government agencies (NGAs) and local government units (LGUs).
In a statement Tuesday, the BOI said the biggest investments that have been certified for green lane treatment were the Guimaras Strait Wind Power Project of Triconti Southwind Corp. and the Guimaras Strait II Wind Power Project of Jet Stream Windkraft Corporation with combined investments of PHP221.6 billion.
These offshore wind investments have a target capacity of producing 1.2 gigawatts of clean energy and will create 3,500 direct and indirect jobs.
“The projects are being undertaken in partnership with Sea Wind Holdings AG (Seawind), a Liechtenstein-based developer,” the BOI said.
The BOI’s One-Stop Action Center for Strategic Investments (OSAC-SI) also issued green lane endorsement to four geothermal projects.
Three of these projects will be undertaken by the Philippine Geothermal Production Company, Inc. (PGPC) and include the PHP7.58-billion, 105-megawatt Mt. Labo project; the PHP6.66-billion, 51-MW Dakal project; and the PHP5.03-billion, 50-MW Mt. Malinao project.
“These projects are projected to generate a total of 1,500 jobs from exploration and development, well drilling to commercial operations, which will be beneficial to Filipino workers,” the BOI said.
Pan Pacific Power Phils., Corp. (PPPPC) was also granted with a green lane certificate for its PHP689.9-million, 61-MW Baua-Sikaw Geothermal Power Project in the municipalities of Lal-lo, Gonzaga, and Sta. Ana in Cagayan Province. This project is expected to generate 500 jobs.
The OSAC-SI also released the Certificate for Green Lane Endorsement to Burgos Pangasinan Solar Energy Corporation (BPSEC) for its PHP2.7-billion, ground-mount solar power plant over 71.5 hectares of land with a target installed capacity of 65 MW at its peak.
The solar power farm targets to start commercial operation by September 2026.
Under Executive Order 18 signed by President Ferdinand R. Marcos on Feb. 23, 2023, the government will provide green lane treatment to strategic investments, or those projects aligned with the Philippine Development Plan, and include highly desirable projects, foreign direct investments, and projects or activities under the Strategic Investment Priority Plan.
The same EO also mandates NGAs and LGUs to expedite processing and issuance of permits and licenses for projects with green lane certification to attract more foreign investments. (PNA)
