September 12, 2024 | 12:00am
MANILA, Philippines — The Board of Investments (BOI) has endorsed for green lane processing ACEN Corp.’s SanMar solar project in Zambales.
In a statement, the BOI said it issued the green lane certificate of endorsement to ACEN’s SanMar solar project developed by the company’s subsidiary, Santa Cruz Solar Energy Inc.
BOI executive director Bobby Fondevilla, along with officials from the BOI One-Stop Action Center for Strategic Investments, presented the green lane certificate of endorsement to Anabele Natividad, ACEN senior vice president for development last Aug. 29.
The BOI said this green lane certification is the eighth to be issued for ACEN.
Executive Order 18 issued by the Office of the President last year created the green lanes, which aim to expedite, streamline and automate the processing of permits and licenses for strategic investments in the country.
BOI Investment Assistance Service director Ernesto delos Reyes assured the company of government’s support for the project from the construction until commercial operation next year.
Once fully operational, the solar plant is expected to generate up to 587-MWp (Megawatt peak) of solar energy.
The project is being developed in three phases with the construction for the first and second phases already underway, while the third phase is expected to be completed by the fourth quarter of next year.
At the peak of construction, the project will employ up to 2,000 skilled workers, with Phases 1 and 2 generating 3,600 jobs.
“We are deeply grateful for the BOI’s green lane endorsement, which will significantly expedite the processes and requirements for SanMar solar and enable us to meet our project timeline. This support reinforces our commitment to ongoing collaboration with the government to accelerate the nation’s transition to renewable energy,” Natividad said.
ACEN, the listed energy platform of the Ayala Group, is expanding its presence in the Philippines, as well as Australia, Vietnam, India, Indonesia, Lao PDR and the US.
It currently manages 4.8 GW of attributable renewable energy capacity, both operational and under construction.
As ACEN aims to provide clean, reliable and affordable energy, the company has set a goal of increasing its renewable energy capacity to 20 GW by 2030.
As of August this year, 115 projects with investments amounting to P3.2 trillion have been approved for the green lane initiative.
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