100% FOREIGN-OWNED. Trade Undersecretary and Board of Investments (BOI) Managing Head Ceferino Rodolfo (4th from left) awards the green lane certificate to Growth Markets Fund Partner and co-head Niels Holst (5th from left) for Copenhagen Infrastructure New Market Fund (CI NMF) Philippines Corp.'s PHP329-billion offshore wind energy projects at the BOI main office in Makati City on Feb. 19, 2024. This is the third project of CI NMF to get a green lane endorsement. (Courtesy of BOI)
MANILA – Copenhagen Infrastructure New Market Fund (CI NMF) Philippines Corp., a 100-percent Danish energy company, secured another endorsement for green lane treatment from the One-Stop Action Center for Strategic Investments (OSAC-SI).
The Board of Investments (BOI) on Friday said its OSAC-SI granted the green lane certification to CI NMF on Feb. 19 for its three offshore wind energy projects worth PHP329 billion.
These potential investments are for its Pangasinan-La Union, Camarines Norte-Camarines Sur and Northern Samar offshore wind farms.
The BOI said these offshore wind energy projects have a total potential capacity of 2 gigawatts.
CI NMF is the first fully foreign-owned renewable energy (RE) company in the country that was awarded RE service contracts by the Department of Energy.
The company is a unit here of Danish fund manager Copenhagen Infrastructure Partners (CIP), the world’s largest fund manager dedicated to renewable energy investments, and a global leader in offshore wind.
Through Executive Order 18, President Ferdinand R. Marcos Jr. earlier directed all national government agencies and local government units to expedite the processing of licenses, permits, and other related documents for projects with huge economic impact.
The green lane certificate is being issued by the BOI’s OSAC-SI.
“The Marcos government’s vision for renewables has been instrumental in attracting significant interest from a global leader in offshore wind like CIP, first with the removal of the foreign equity restrictions in November 2022, then the issuance of Executive Order 21 in April 2023 for a coordinated approach to offshore wind, and now the award of the Green Lane status to our projects, which we highly welcome,” Growth Markets Fund partner and co-head Niels Holst said.
Growth Markets Fund associate partner and Asia Pacific lead Przemek Lupa added the company targets to begin the commercial operations of its first offshore wind energy project during the Marcos administration.
“We look forward to further working closely with the BOI and DTI to ensure smooth project permitting and consenting,” Lupa said.
Earlier, the OSAC-SI issued the green lane certification to two other renewables projects of CI NMF, including the PHP108.3-billion, 650-megawatt Samar North Offshore Wind Power Projects awarded on Jan. 8, and the PHP162.92-billion, 1-GW San Miguel Bay Offshore Wind Project on Jan.19.
All three projects were registered with the BOI in 2023, the agency’s data showed. (PNA)
