THE Board of Investments (BoI) certified this month 11 strategic projects worth P895.76 billion under the green lane service, bringing to 126 the total approved projects worth P4.13 trillion since the implementation of Executive Order (EO) 18.
Signed by President Ferdinand Marcos Jr. in February 2023, EO 18 pertains to the creation of green lanes to reduce the cost of doing business in the Philippines through simultaneous processing and endorsement of high-priority investments to relevant government agencies, ensuring efficiency and faster implementation.
Trade Undersecretary and BoI managing head Ceferino Rodolfo said the green lane services attract businesses focused on innovation and sustainability. “With over P4 trillion in investments already certified, we are setting a clear path toward renewable energy growth, job creation and reducing our carbon footprint,” Rodolfo said in a statement on Thursday.
Majority of the investments are in renewable energy, with 114 projects valued at P3.74 trillion. Of these, 36 projects with a total project cost of P1.64 trillion have been registered.
Digital infrastructure also posted an increase in investments with P346.3 billion across six projects: four in food security valued at P4.14 billion; and two in manufacturing worth P29.6 billion.
Big-ticket projects include wind power in Ilocos Norte amounting to P289 billion.
There are three offshore floating wind farms under a Filipino-Danish partnership, valued at P600 billion, and to be built off the coasts of Northern Luzon, Northern Mindanao and East Panay. Facilitated by BuhaWind Energy Philippines, the projects will generate 4 gigawatts of power.
Aboitiz subsidiary PV Sinag Power Inc., which was previously granted green lane certification, has begun commercial operations of its 94.717-megawatt peak Cayanga-Bugallon Solar Power Project in Pangasinan.
Nexif Ratch Energy Investments Pte. Ltd., meanwhile, inaugurated its Calabanga Solar Power Plant in Camarines Sur on September 12.
The Calabanga Solar Power Project, operated by Calabanga Renewable Energy Inc., boasts a capacity of 74.13 MW with an investment of P3.695 billion. Construction began in mid-2023, and the project has received its Certificate of Endorsement from the Department of Energy confirming its alignment with the country’s Power Development Plan.
Rodolfo reiterated the green lane certification’s critical role to accelerate strategic projects that drive sustainable development, in line with BoI’s commitment to foster a business-friendly environment and position the Philippines as a key destination for local and foreign investments.
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