Danish firm’s projects get green lane approval
A100-PERCENT foreign-owned company has BEEN AWARDED GREEN LANE CERTIfiCATION BY the Board of Investments (BoI) to build three renewable energy (RE) projects worth a combined P329 billion in the country.
In a statement on Friday, the BoI said that its One-Stop Action Center for Strategic Investments had granted green lane approval to Copenhagen Infrastructure New Market Fund Philippines Corp. or CI NMF (PH) Corp., a Danishowned green power supplier.
The green lane certificate was awarded by Trade Undersecretary and BoI managing head Ceferino Rodolfo to CI NMF officials on
February 19.
“A pioneer in offshore wind projects, CI NMF (PH) Corp. is the first 100-percent foreignowned company to be awarded renewable energy service contracts in the Philippines,” the Department of Trade and Industry (DTI) said.
The Northern Samar, Pangasinan-La Union, and Camarines Sur-Camarines Norte wind power projects will have a combined potential capacity of two gigawatts.
The specific configuration of the projects “will be defined through a rigorous procurement process, additional engineering, and environmental evaluations required by both national and international legislation and norms,” the DTI said.
CI NMF is a subsidiary of Copenhagen Infrastructure Partners (CIP), said to be the world’s largest in renewable energy investments and a dominant force in offshore wind projects.
Przemek Lupa, associate partner and Asia-Pacific head for CIP’s Growth Markets Fund, said that they had made significant progress on the three projects since signing the wind energy service contracts in March last year.
“Today is another significant milestone for CIP, and we strongly believe that the green lane status will materially contribute to putting up the first offshore wind projects into commercial operations” within the term of President Ferdinand Marcos Jr., Lupa added.
“We look forward to further working closely with the BoI and DTI to ensure smooth project permitting and consenting,” he added.
Rodolfo thanked the CI NMF officials investing in the Philippines and assured improved coordination with other government agencies to help fast-track implementation of the wind projects.