Buhawind Energy Philippines (BEP) has received green lane certification from the Board of Investments (BOI) for its three offshore wind power projects, which aim to deliver a combined capacity of 4,000 megawatts (MW).
In a report by Manila Bulletin, the BOI announced that the certification was granted due to the alignment of the projects with the country’s developmental agenda and their potential to significantly advance renewable energy goals.
The projects, worth a total investment of P694 billion, are located in Northern Luzon, Northern Mindoro, and East Panay, and are expected to generate over 50,000 jobs during construction and operation phases.
BOI Governor Marjorie Ramos-Samaniego praised Buhawind Energy for boosting the energy supply, creating green jobs, and supporting host communities, expressing confidence in the projects’ role in building a greener, more progressive Philippines.
The green lane certification enables expedited processing of permits and licenses by national government agencies and their regional and local offices.
Buhawind Energy is a joint venture between PetroGreen Energy Corporation (PGEC) of the Yuchengco Group and Denmark’s Copenhagen Energy (CE).
Buhawind Energy Chair Jasmin Bejdic expressed gratitude to the BOI for granting Green Lane Certification to their three offshore wind projects, emphasizing the company’s dedication to advancing renewable energy and progress in the Philippines.
The Northern Luzon Offshore Wind Power Project in Ilocos Norte is set to commence operations in 2030, followed by the Northern Mindoro Offshore Wind Power Project in 2031, and the East Panay Offshore Wind Power Project in 2033.
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