BOI opens ‘green’ express lane for 5 ACEN floating solar projects
MANILA -Five floating solar power projects of ACEN Corp. have been granted the green lane endorsement by the Board of Investments (BOI), which means the processing of requisite permits and licenses will be expedited in line with the government’s goal to ramp up green investments in the country.
In a statement on Thursday, the BOI said it had approved the request of ACEN to hasten the regulatory process for its renewable energy projects on Laguna Lake.
An awarding ceremony was held earlier this month.
One of the projects is the 140-megawatt peak (MWp) SolarAce4, which covers 100 hectares (ha) of lake surface area in Santa Cruz.
AC Laguna Floating Solar Power Plant-AC Laguna, occupying 200 ha of lake surface area in Victoria and Pila, will produce 280 MWp of clean energy.
The 200-ha AC Subic Floating Solar Power Plant in Victoria and Santa Cruz, meanwhile, is designed to generate 280 MWp of solar energy.
Article continues after this advertisementSituated on 200 ha of lake surface area in Kalayaan and Paete, the GigaWind1 Floating Solar Power Plant will have a capacity of 280 MWp.
Article continues after this advertisementThe 100-ha Ingrid Floating Solar Power Plant in Lumban, meanwhile, will produce 140 MWp of clean energy.
ACEN is the listed energy arm of the Ayala Group. It has a goal of establishing a 20-gigawatt (GW) renewable energy portfolio by the end of the decade, a marked growth from 4.4 GW currently.
It has operations across the Philippines, Indonesia, Vietnam, Australia and India.
In July, the Department of Trade and Industry introduced green lanes, which was prescribed through Executive Order (EO) 18, as part of its ease of doing business initiative.
The EO seeks to eliminate red tape and unnecessary delays in processing regulatory permits and licenses. National government agencies and local government units are also mandated to act on the application for the issuance of permit and license within 20 days at most.
Strategic investments refer to projects seen to bring in significant capital into the country and provide positive economic impact. Renewable energy, food security, digital infrastructure, data center, pharmaceuticals and electric vehicles are sectors identified as strategic by the BOI.
