Renewable energy (RE) projects are poised to remain a key driver of investments in the Philippines, with the Board of Investments (BOI) already processing 24 new applications under its expedited Green Lane initiative this year.
Green Lane certification allows high-impact projects, including those in renewable energy, to bypass bureaucratic bottlenecks and secure faster approvals. The initiative, authorized under Executive Order No. 18, streamlines inter-agency coordination and local government endorsements.
In a Malaya Business Insight interview, BOI Investment Assistance Service (IAS) Director Ernesto delos Reyes said that the importance of fast-tracking RE projects is to attract high-value investments and accelerate the country’s transition to cleaner energy sources.
In 2024, renewable energy projects dominated the BOI’s portfolio, accounting for 141 out of 176 strategic projects certified. These initiatives represented a total investment of Php 4.13 trillion, about 91% of all strategic investments that year.
The certified projects include wind, solar, and other clean energy solutions aimed at supporting the Philippine Development Plan and boosting environmental sustainability. The report also noted a Php 12.72 billion wind project in Region 4-A among the key certifications.
Delos Reyes said that streamlining the requirements meant that it minimizes investment risks which will give the companies a faster opportunity to deploy clean energy technologies.
One notable project granted Green Lane access is Buhawind Energy Philippines, a collaborative project between PetroGreen Energy Corporation and Copenhagen Energy. With a target installed capacity of 4,000 MW and an investment of P694 billion, its offshore wind farms in Northern Luzon, Northern Mindoro, and East Panay are expected to generate over 50,000 jobs.
As the Philippines continues to push for cleaner energy, the government’s commitment to RE investments is seen as vital to strengthening the country’s energy security and fulfilling international climate obligations.
The BOI’s sustained focus on renewable energy highlights the nation’s readiness to become a leader in green energy innovation. For more information on these transformative projects as they take shape across the country, subscribe to Power Philippines.
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