The Board of Investments (BOI) endorsed 126 investment projects worth P4.13 trillion since the implementation of Executive Order No. 18, which establishes green lanes for strategic investments.
Established under EO 18, the Green Lane for Strategic Investments aims to streamline the approval process for high-impact projects in the Philippines.
Department of Trade and Industry Undersecretary and BOI managing head Ceferino Rodolfo emphasized the positive impact of green lanes in positioning the Philippines as a leading hub for smart and sustainable investments.
“The green lane initiative ensures the Philippines remains competitive globally, attracting investors who prioritize innovation and sustainability. With over P4 trillion in investments already certified, we’re setting a clear path toward renewable energy growth, job creation, and reducing our carbon footprint,” he said.
The certified projects cover a range of critical sectors, with renewable energy securing the largest share of investments at P3.74 trillion. Significant investments are also in the space of digital infrastructure at P346.33 billion, food security at P4.14 billion and manufacturing at P29.61 billion.
Data showed that in September 2024, 11 renewable projects worth P895.76 billion were certified, including a P289-billion offshore wind power project in Ilocos Norte.
The BOI said of the 126 certified projects, 43 were registered with the BOI, representing P1.91 trillion in investments. The remaining 83 projects, with a value of P2.22 trillion, were in the process of being registered.
Among the projects are three offshore floating wind farms, representing over P600 billion in investment through a Filipino-Danish partnership under BuhaWind Energy Philippines.
Two projects previously granted green lane certifications already started operations. PV Sinag Power Inc. (PVSPI), a subsidiary of Aboitiz Power, began commercial operations of its 94.717-MWp Cayanga-Bugallon Solar Power Project in Pangasinan.
The BOI’s green lane endorsement expedited the provisional authority to operate, considerably reducing the usual 60-day processing time required by the Energy Regulatory Commission (ERC).
Nexif Ratch Energy Investments Pte. Ltd. (NREI) recently inaugurated its Calabanga Solar Power Plant in Camarines Sur. The BOI’s endorsement in June 2024 accelerated the project’s timeline.
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