‘Green lane’ investment pipeline breaches P5-trillion mark
INQUIRER FILE PHOTO
MANILA, Philippines — Investments under the “green lane” priority program of the government crossed the P5-trillion mark in total cost as of early April, according to the latest tally of the Board of Investments (BOI).
Most of the projects tagged under this initiative—which is meant to speed up regulatory processes of major investments—are in the renewable energy sector.
Among the latest grantees is NexGen Energy Corp., with its P300-billion wind farms set for completion in the next two to three years.
A list released on Monday by the BOI, a unit of the Department of Trade and Industry, showed that a total of 202 projects worth P5.16 trillion were deemed “strategic” as of April 4, and must be swiftly processed.
Dissecting the updated list, the bulk of the total number of certified investments comprised renewable energy projects worth P4.7 trillion. This crucial sector so far has 158 projects in the pipeline.
Food security cornered the second largest share with a total of 31 projects. These investments were valued at P18.7 billion.
Balancing act
Digital infrastructure and public-private partnership undertakings with a combined cost of P364.9 billion accounted for 4.46 percent of the total number of strategic projects.
Lastly, there were four key investments in the manufacturing sector valued at P36.9 billion.
“The overwhelming investment in renewable energy suggests a long-term vision for environmental responsibility and energy independence,” BOI director Ernesto Delos Reyes Jr. said.
READ: Renewable energy projects dominate government’s green lane program
“Overall, this distribution highlights a forward-thinking approach that balances environmental, economic and technological progress. Further analysis may be required to assess the long-term impact and effectiveness of these investments,” Reyes added.
NextGen’s P300-B projects
In a separate statement on Monday, NexGen Energy, a listed renewable energy producer, said it had obtained the green lane certifications for its wind farms in Real and Mauban, Quezon.
The projects are the 200-megawatt (MW) Pandan Labayat wind project, the 2,000-MW Real offshore wind farm, the 300-MW Silang Maragondon wind project and the 300-MW Mauban offshore wind farm.
In a message to reporters, Roxas said the company was targeting to complete the Silang and Mauban projects by late 2027.
The development of the Pandan and Real facilities, meanwhile, is poised to finish by 2028.
“The project costs will be funded by partial debt and equity. The company has been in talks with several foreign investors who have expressed their interest in participating in these projects,” Roxas said. INQ
