Green-lane certificates issued for P244 billion worth of RE projects
THE Board of Investments (BoI) has issued green-lane certificates to six renewable energy (RE) projects which cost a combined P244.26 billion, the investment promotion agency said on Tuesday.
Two of the endorsed projects are 1.2-gigawatt (GW) joint wind power projects of Triconti Windkraft and Sea Wind Holdings AG worth P221.6 billion.
The projects, Guimaras Strait Wind Power Project (by Triconti Southwind Corp.) and Guimaras Strait II Wind Power Project (by Jet Stream Windkraft Corp.), are expected to operate offshore in Negros Occidental and Iloilo.
Projects are endorsed for green lane treatment if they are deemed of strategic importance, entitling them to expedited permit processing.
“The projects are being undertaken in partnership with Sea Wind, a Liechtenstein-based developer. Together, the Triconti-Seawind partnership is currently developing a total of over 1.65 GW of offshore wind capacity in Luzon and the Visayas,” the BoI said in a statement.
The two projects are expected to generate 3,600 direct and indirect jobs and to boost economic activity in the Negros provinces and Iloilo through the development of eco-tourism.
The BoI also endorsed a Burgos, Pangasinan Solar Energy Corp. (BPSEC) ground-mount solar power plant worth P2.7 billion which is projected to generate over 500 jobs.
Expected to operate by September 2026, the project will cover 71.5 hectares with peak capacity of 65 megawatts (MW).
BPSEC is a development company unit of Rising Renewables Holdings, Inc., a Filipino-owned RE platform holding RE assets for both foreign and local investors.
The BoI also awarded green lane certificates to three geothermal energy projects of Philippine Geothermal Production Co., Inc. (PGPC) and Pan Pacific Power Phils., Corp. (PPPPC).
Three PGPC projects are the 51MW Daklan Geothermal Power Project in Benguet worth P6.66 billion, the 105-MW Mt. Labo Geothermal Power Project in Quezon, Camarines Norte and Camarines Sur worth P7.58 billion, and the 50-MW Mt. Malinao Power Project in Camarines Sur and Albay worth P5.03 billion.
The projects of PGPC, a unit of SM Investments Corp., are expected to generate 1,500 jobs.
Aside from the three geothermal projects, PGPC also operates Tiwi and Mak-Ban Geothermal Steam Fields.
PPPPC is the developer of the P689.9-million Baua-Sikaw Geothermal Power Project in Cagayan Province which is projected to produce 61 MW during its 7-year exploration period contract.
“The Baua-Sikaw project will employ Filipinos for the duration of its contract as it aims to generate more than 500 job opportunities,” the BoI said.
“In addition, as it continues its commitment to provide clean and renewable energy sources to meet the country’s growing energy needs, the company has other new projects in the pipeline,” it added.
In early 2023, President Ferdinand R. Marcos, Jr. issued Executive Order No. 18, which established the green lane system. As of Feb. 8, the BoI has granted green lane certification to 41 projects. —