The Marcos administration's green lane initiative is proving to be
effective in generating the much-needed capital for the country's growing energy appetite, attracting over P4 trillion in investments.
The Board of Investments (BOI) reported Thursday that its One-Stop Action Center for Strategic Investments (OSAC-SI) has approved 126 green lane certificates worth P4.13 trillion to expedite the processing of permits and licenses in national government agencies (NGAs) and local government units (LGUs).
"The green lane initiative ensures that the Philippines remains competitive globally, attracting investors who prioritize innovation and sustainability. With over P4 trillion in investments already certified, we are setting a clear path towards renewable energy growth, job creation, and reducing our carbon footprint," Trade undersecretary and BOI managing head Ceferino Rodolfo said.
"This initiative is not only a testament to the government's commitment to creating a more efficient and business-friendly environment but also a vital tool for accelerating strategic projects that drive sustainable development," Rodolfo added.
The BOI said that 114 out of 126 projects are renewable energy (RE) projects amounting to P3.74 trillion.
It added that 36 RE projects valued at P1.64 trillion are already registered with the BOI to receive fiscal and non-fiscal incentives.
Most of the big-ticket projects under green lane are in offshore wind energy.
This month alone, the OSAC-SI endorsed a green lane for an offshore wind energy project in Ilocos Norte with investments of P289 billion.
Three offshore wind energy projects of the Filipino-Danish partnership BuhaWind Energy Philippines, worth over P600 billion and with a generation capacity of 4 gigawatts, in Northern Luzon, Northern Mindoro, and East Panay, also received green lane certificates from the OSAC-SI.
In addition to RE projects, the OSAC-SI provided green lane treatment to six projects worth PHP346.33 billion in digital infrastructure, two projects worth P29.61 billion in the manufacturing sector, and four projects worth P4.14 billion in food security.
Moreover, the BOI said that many strategic investment projects are on track to commence their operations through the green lane initiatives.
"Two projects previously granted Green Lane certifications have now commenced operations. PV Sinag Power Inc. (PVSPI), a subsidiary of Aboitiz Power, has begun commercial operations of its 94.717 megawatt peak Cayanga-Bugallon Solar Power Project in Pangasinan. With the BOI's Green Lane endorsement, the provisional authority to operate was fast-tracked, significantly reducing the usual 60-day processing period required by the Energy Regulatory Commission (ERC)," the BOI said.
Nexif Ratch Energy Investments Pte. Ltd.'s (NREI) Calabanga Solar Power Plant in Camarines Sur also came online last Sept. 12, wherein the green lane certificate it received in June this year accelerated the timeline of the project.
The Calabanga Solar Power Project, with investments of P3.7 billion, began construction in the middle of 2023.
Executive Order 18, signed by President Ferdinand R. Marcos Jr. in February 2023, establishes the OSAC-SI to give green lane treatment to strategic investments in NGAs and LGUs by simplifying and streamlining their approval process.
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