RE projects dominate government's green lane program

Renewable energy projects dominate government’s green lane program

MANILA, Philippines — More than P2.3 trillion worth of investments have been approved so far by the government under its green lane program, with the latest list containing 74 projects spanning several industries such as energy, digital infrastructure, food security, and manufacturing.

In a statement on Thursday, the Board of Investments (BOI) said most of the investments are in the renewable energy sector, with 65 projects for a total cost of P1.95 trillion.

Of the other projects, five are in digital infrastructure with a cumulative project cost of P338.23 billion, two in food security with P3.4 billion, and two in manufacturing with P29.61 billion.

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“For the month of June, a total of P265.465 billion worth of strategic investments was certified, the highest of which is a P183.205-billion solar power project in Luzon,” the Department of Trade and Industry’s (DTI) lead investments promotion body said.

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The BOI noted 59 other projects were still under consideration pending the completion of various requirements. The investment promotion agency said these projects have a cumulative worth of P792.71 billion.

The list contains 37 projects in the renewable energy sector, two in digital infrastructure, 19 in food security, and one in manufacturing.

READ: Bongbong Marcos: EO No.18 a huge leap forward

The government launched the green lane scheme in February 2023 through Executive Order No. 18, which was issued in the same month. It was meant to expedite, streamline, and automate government approval and registration processes for strategic investments.

Applications to the program are submitted to the BOI through a QR code or by emailing the government agency at [email protected].

The One-Stop-Action-Center for Strategic Investments receives and evaluates the applications.

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TAGS: 'green' lane, renewable energy

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