Through its One-Stop Action for Strategic Investments (OSACSI), the Board of Investments (BOI) has awarded a green lane certificate of endorsement to the Php 10.85 billion-worth Kalayaan 2 Wind Power Project by Laguna Wind Energy Corp. (LWEC), situated in Paete and Kalayaan, Laguna.
In a report by BusinessMirror, the wind power project is set to commence commercial operations by 2026 and is expected to create over 30 direct jobs and 500 indirect employment opportunities, and aims to harness renewable wind resources to power industries and facilitate sustainable and environmentally friendly economic growth.
The approval was made under Executive Order (EO) No. 18, which established Green Lanes for Strategic Investments in February 2023. This is steered to streamline and accelerate the permit and license application processes for strategic investments.
The Blue Circle, through its subsidiary Laguna Wind Energy Corp. (LWEC), is spearheading the development of the Kalayaan 2 wind power project as part of its commitment to expanding its presence in the Philippines.
Currently, the company holds an extensive portfolio of renewable energy projects worth more than 2.5 gigawatts (GW) in various stages of development across the nation.