BOI approves green lane certification of two solar facilities
(Photo from BOI/FACEBOOK)
The Board of Investments (BOI) on Friday said it has granted green lane certification to two solar projects of Upgrade Energy Philippines, Inc.
The move expands further the government agency’s lineup of renewable energy projects under the scheme.
The BOI said it awarded the certification last Feb. 3 for the firm’s P2.1 billion Cabangan Solar Project in Zambales and the P1.5 billion Pontevedra Solar Power Project in Capiz.
The bureau serves as the Department of Trade and Industry’s (DTI) lead investment promotion agency.
The two power facilities have capacities of 6.7 megawatts (MW) and 47 MW.
UGEP solar power projects are expected to generate up to 331 temporary and permanent direct job employment opportunities during the Projects’ construction and commissioning.
This phase will be followed by long-term roles in operations and maintenance over the 25-year project life.
The projects will also support infrastructure development and community growth with the additional tax revenue and investment in local businesses.
“With the Board of Investment’s green lane facilitation, our projects will benefit from streamlined processing of permits and licenses, ensuring swift and efficient collaboration with national and local agencies,” said UGEP President and CEO Ruth Yu-Owen.
“This endorsement not only validates our vision but also energizes our resolve to deliver a transformative renewable energy initiative that will power thousands of homes, reduce carbon emissions, and set a bold precedent for future green investments,” she added.
UGEP started as a joint venture local firm PhilCarbon and Belgian company Upgrade Energy.
It is expected to create up to 331 fresh jobs from the projects construction and commissioning.
According to the BOI, there are currently 149 renewable energy projects to date under the green lane program.
The government’s green lane scheme was launched back in February 2023 under Executive Order No. 18.
It was intended to expedite, streamline and automate government approval and registration processes for projects which are deemed as strategic investments.
Big-ticket projects under the program also include the P200 billion solar power project of the Pangilinan-led Meralco PowerGen Company (MGen) and SP New Energy Corporation (SPNEC) subsidiary Terra Solar Philippines, Inc. (TSPI).
