The Board of Investments (BOI) has granted a green lane endorsement for ACEN Corporation’s SanMar solar project in Zambales through the green lane initiative.
In a report by Philippine Star, the BOI granted the green lane certificate of endorsement to ACEN’s subsidiary, Santa Cruz Solar Energy Inc.
This certification marked the eighth green lane endorsement for ACEN
This initiative was introduced under Executive Order 18, issued last year. The order aims to streamline and automate the processing of permits for strategic investments.
The SanMar solar project is being developed in three stages, with the first two phases already in progress. The third phase is expected to be completed by the end of next year.
Once operational, the solar plant will produce up to 587 megawatt peak (MWp) of solar energy.
BOI’s Investment Assistance Service director Ernesto delos Reyes assured ACEN of the government’s support through the construction phase until the project begins commercial operations next year.
ACEN currently manages 4.8 gigawatts (GW) of renewable energy capacity and aims to increase that to 20 GW by 2030.
As of August, the BOI has approved 115 projects under the green lane initiative, totaling Php 3.2 trillion in investments.
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