malaysiangManila: The Board of Investments (BOI), through its One-Stop Action Center for Strategic Investments (OSAC-SI), has granted green lane certificates to 126 projects worth PHP4.13 trillion to expedite the processing of their permits and licenses in national government agencies (NGAs) and local government units (LGUs).
The BOI said in a statement Thursday that 114 out of 126 projects are renewable energy (RE) projects amounting to PHP3.74 trillion.
It added 36 RE projects valued at PHP1.64 trillion are already registered with the BOI to receive fiscal and non-fiscal incentives.
Most of the big-ticket projects under green lane are in offshore wind energy.
For this month alone, the OSAC-SI awarded the endorsement for green lane to an offshore wind energy project in Ilocos Norte with investments of PHP289 billion.
Three offshore wind energy projects of Filipino-Danish partnership BuhaWind Energy Philippines worth over PHP600 billion in Northern Luzon, Northern Mindoro, and East Panay with generation capacity o
f 4 gigawatts also got green lane certificates from the OSAC-SI.
Aside from RE projects, the OSAC-SI provided green lane treatment to six projects worth PHP346.33 billion in digital infrastructure, two projects worth PHP29.61 billion in the manufacturing sector, and four projects worth PHP4.14 billion in food security.
“The green lane initiative ensures that the Philippines remains competitive on the global stage, attracting investors who prioritize innovation and sustainability. With over PHP4 trillion in investments already certified, we are setting a clear path towards renewable energy growth, job creation, and reducing our carbon footprint,’ Trade Undersecretary and BOI Managing Head Ceferino Rodolfo said.
‘This initiative is not only a testament to the government’s commitment to creating a more efficient and business-friendly environment but also a vital tool for accelerating strategic projects that drive sustainable development,’ Rodolfo added.
Moreover, the BOI said that through the green lane init
iatives, many strategic investment projects are on track in commencing their operations.
‘Two projects previously granted Green Lane certifications have now commenced operations. PV Sinag Power Inc. (PVSPI), a subsidiary of Aboitiz Power, has begun commercial operations of its 94.717 megawatt peak Cayanga-Bugallon Solar Power Project in Pangasinan. With the BOI’s Green Lane endorsement, the provisional authority to operate was fast-tracked, significantly reducing the usual 60-day processing period required by the Energy Regulatory Commission (ERC),’ the BOI said.
Nexif Ratch Energy Investments Pte. Ltd.’s (NREI) Calabanga Solar Power Plant in Camarines Sur also came online last Sept. 12, wherein the green lane certificate it received in June this year accelerated the timeline of the project.
The Calabanga Solar Power Project, with investments of PHP3.7 billion, began construction in middle of 2023.
Signed by President Ferdinand R. Marcos Jr. in February 2023, Executive Order 18 establishes the OSAC-SI to
give green lane treatment to strategic investments in NGAs and LGUs by simplifying and streamlining their approval process.
Source: Philippines News agency
