P244 B worth of RE investments granted green lane processing
Source：https://mb.com.ph/2024/2/13/7-re-projects-pass-boi-s-green-lane
From：Taiwan Trade Center, Manila
Update Time：2024/03/22
The One-Stop Action Center for Strategic Investments (OSACSI) under the Board of Investments (BOI) has approved seven renewable energy (RE) projects worth P244.26 billion via the Green Lane for Strategic Investments initiative on efforts to fast track the processing and implementation of their projects. The projects include the Burgos Pangasinan Solar Energy Corporation's (BPSEC) P2.7 billion solar power plant; Triconti Windkraft and Liechtenstein-based Sea Wind Holdings AG's two P221.6 billion Guimaras wind power projects; the Philippine Geothermal Production Company Inc.'s (PGPC) three geothermal power projects with a combined value of P19.27 billion; and the Pan Pacific Power Phils. Corp.'s (PPPPC) P689.9 million geothermal project.
DTI Undersecretary and BOI Managing Head Ceferino Rodolfo conferred the Certificate of Endorsements to the operating firms in January. BPSEC's ground-mount solar power plant will be built over 71.5 hectares in the Municipality of Burgos, Pangasinan, with an estimated capacity of 65 MWp or 50 MWac. Over 500 jobs are expected to be made through the project. The Department of Energy (DOE) gave the company a Solar Energy Operating Contract in December last year. BPSEC is the development firm of FIlipino RE group Rising Renewables Holdings Inc. (RRHI).
Meanwhile, the Guimaras Strait and Guimaras Strait II Wind Power Projects under the Triconti Southwind Corporation and Jet Stream Windkraft Corporation respectively are being built in partnership with Sea Wind. Both projects will operate offshore in Negros Occidental and Iloilo Province. Combined, they have a power capacity of 1.2 GW and are projected to make 3,600 jobs. The DOE conferred to them the agency's first Offshore Wind Energy Service Contracts.
Moreover, PGPC's three projects include Daklan Geothermal Power Project in Benguet costs around P6.66 billion, while the Mt. Labo Geothermal Power Project in Quezon, Camarines Norte and Sur cost P7.58 billion. Its third project is Mt. Malinao Power Project in Camarines Sur and Albay is valued at P5.03 billion. The power plants each have 51 MW, 105 MW, and 50 MW capacities for Daklan, Mt. Labo, and Mt. Malinao respectively. Overall, these are expected to open 1,500 job opportunities for Filipinos in all stages of development. PGPC is a subsidiary of SM investments Corporation, operating the Tiwi and Mak-Ban Geothermal Steam Fields.
Lastly, the PPPPC’s Baua-Sikaw Geothermal Power Project will be constructed over a seven-year exploration period in the Municipalities of Lal-lo, Gonzaga and Sta. Ana in Cagayan Province. It will be able to produce 61 MW and generate 500 jobs. The Philippines is leveraging its natural resources to harness RE as alternative power sources nationwide. According to Executive Order No. 18, the Green Lanes For Strategic Investments targets priority investments in RE and other essential sectors. A Green Lane endorsement indicates the streamlining and expedition of business licences and permit processing for companies for approved projects. There are now 41 projects approved through the Green Lane as of Feb. 8. The national government is determined to increase the development of the offshore wind industry, along with increasing the country's geothermal power generation to 91 MW from 2021 to 2026. For geothermal energy, the agency has identified 19 potential locations in the exploration stage. The DOE proposed an added capacity of 777.6 MW based on the awarded contracts, as indicated in the National Renewable Energy Program (NREP) 2020-2040.
Source: https://mb.com.ph/2024/2/13/7-re-projects-pass-boi-s-green-lane