BOI endorses P3.7 trillion in RE investments for expedited permit processing

The Board of Investments (BOI) is endorsing over Php 3.7 trillion worth of investments for renewable energy (RE) projects to undergo expedited permit processing, underlining the sector’s dominant share in the country’s green lane services initiative.

In a Philippine Star report, the BOI stated that RE projects comprise the majority of the 126 projects, with a total investment value of Php 4.13 trillion, certified for streamlined green lane processing. 

Specifically, 114 RE projects, worth Php 3.74 trillion, have been endorsed for fast-tracked permit approvals.

This initiative follows Executive Order 18, approved by the Office of the President in February 2023, which established green lanes to speed up the processing of permits and licenses for strategic investments.

While RE accounted for the largest share, other sectors with significant investments benefiting from green lane services include digital infrastructure with Php 346.33 billion, food security with Php 4.14 billion, and manufacturing with Php 29.61 billion.

Out of the 126 certified projects, 43 projects worth Php 1.91 trillion have already been registered with the BOI, of which 36 are in the RE sector, with a total project cost of Php 1.64 trillion. Meanwhile, 83 projects worth Php 2.22 trillion are currently in the pipeline for registration.

In September, a total of 11 projects, with combined investments reaching Php 895.76 billion, were granted green lane certification. Among these is a major Php 289-billion offshore wind power project in Ilocos Norte.

Trade Undersecretary and BOI managing head Ceferino Rodolfo stressed the importance of the green lane initiative, stating that it ensures the Philippines remains globally competitive by attracting investors focused on innovation and sustainability.

With over Php 4 trillion worth of investments certified under the green lane program, Rodolfo emphasized that the government is paving the way for RE sector growth, job creation, and carbon footprint reduction. 

He added that the initiative reflects the government’s commitment to fostering a more efficient, business-friendly environment while accelerating strategic projects that contribute to sustainable development.