BOI OKs P75B in clean energy projects
MANILA, Philippines — The Board of Investments (BOI) on Thursday said it granted green lane certification to four more renewable energy projects in the country, marking the inclusion of P75 billion worth of new investments in clean energy ventures under the program.
Trade Undersecretary and BOI Managing Head Ceferino S. Rodolfo presented the certificates to Vena Energy officials last Jan. 22.
The certificates were awarded to three Vena Energy business units, namely Opus Solar Energy Corp., Gemini Wind Energy Corp., and Ixus Solar Energy Corp.,
READ: BOI-passed projects reached new record at P1.62T in 2024
Specifically, the certificates are for the 416.025 MWp (Megawatt-Peak) Opus Solar Power project of Opus Solar Energy Corp, the 200MW (Megawatt )Gemini Wind Power Project of Gemini Wind Energy Corp., the 301.392 MWp Aguilar Solar Power Project, and the 473.616p MW Ixus Bugallon Solar Power Project both of Ixus Solar Energy Corp.
“With a combined investment of approximately P75 billion, these projects will be developed across Luzon and Visayas, creating up to 8,000 direct job opportunities during their construction, commissioning, operation, and maintenance,” the BOI said in a statement.
As of Feb. 19, the BOI said that it has registered 184 projects under the green lane program.
These projects, it said, have an overall investment value of P4.614 trillion.
The government launched the green lane program under President Marcos’ Executive Order No. 18 back in February 2023.
The program is aimed at expediting, streamlining, and automating government approval and registration processes for investments deemed by the government as a priority or strategic.
Applications to the program are submitted to the BOI at their offices, through the government agency’s green lane QR Code, or by emailing the government agency at greenlane@boi.gov.ph.
Big-ticket projects in the program 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).
The P3.4 billion Bulacan vegetable farm and Laguna dairy farm of the Pangilinan-led Metro Pacific Investments Corp. (MPIC) are also among those on the list.
