By Ma. Joselie C. Garcia
Manila Bulletin
The Board of Investments (BOI), the government’s premier investment generation and promotion agency, said it has approved 16 projects with P336 billion in total investments and 32,730 jobs for green lane processing to expedite the release of permits and licenses of these strategic investments.
In a statement, the BOI said that these projects are into renewable energy generation and tower infrastructures, among others, to be operational by 2024 to 2027.
As green lane projects, they were given certificates of endorsement and identified as strategic investments that are aligned with the Philippine Development Plan.
Based on the data given by the BOI to reporters, among the big projects and it was in fact BOI’s first project approved this year was SunAsia Energy Inc.’s P66-billion floating solar project in Laguna de Bay with a 1,300-megawatt capacity.
Approved last April 17, this 100 percent FIlipino-owned project is expected to generate 12,200 jobs – the highest among others – and is targeted to start operating by February 2026. This will be in partnership with Singapore’s BlueLeaf Energy and Australia’s Macquarie Capital.
BOI’s most recently approved project was Real Steel Corporation’s P10.307 billion domestic producer of reinforcing steel bars with a 600,000 metric ton capacity.
Approved last Oct. 26, the local project will be able to generate 480 jobs by the end of December next year.
Last Oct. 12, BOI approved three solar power plant projects to start operations by the end of December 2025 and a wind power project to begin operating by July 2026.
The solar projects are owned by Ubay Solar Corp., Magallanes Solar Energy Corporation, and Intramuros Solar Energy Corporation – each shares 64 percent ownership with Spain-based company Ignis Energia.
Ubay Solar Corp.’s P5.293 billion solar plant with 155.833 megawatt-peak capacity will generate 1,550 jobs – same as Magallanes Solar Energy Corporation’s P6.948 billion with 197.238 megawatt-peak solar plant. Meanwhile, 700 jobs will be generated by Intramuros Solar Energy Corporation’s P2.591 billion with 70.786 megawatt-peak solar plant.
With 62.5 percent foreign ownership by Singapore-based company The Blue Circle, the Laguna Wind Energy Corp.’s P10.85 billion Kalayaan 2 Wind Power Project is expected to generate 30 direct and 500 indirect jobs.
Further, BOI approved two projects last Sept. 8 including SteelAsia Lemery Works Inc.’s 500,000 metric-ton section mill project in Lemery, Batangas, and EdgePoint Towers Inc.’s Common Passive Telecommunications Tower Infrastructure.
With P19.3 worth of investments, the mill project will generate 700 jobs, operating by July next year. Meanwhile, the P50 billion telco tower project will generate 9,700 jobs by January 2027.
For August, BOI approved five floating solar power plant projects in Laguna Lake from companies including SolarAce4 Energy Corp., Ingrid2 Power Corp., AC Subic Solar, Inc., AC Laguna Solar, Inc., and GigaWind1 Inc.
The first two companies will both construct a 140 megawatt-peak floating solar power plant costing P6.25 billion. These two projects will generate 185 jobs each, aiming to operate by December 2026 and March 2026, respectively.
With investments of P12.494 billion, P10.946 billion, and P12.002 billion, respectively, AC Subic Solar Inc., AC Laguna Solar Inc., and GigaWind1 Inc. will each establish a 280 megawatt-peak floating solar power plant.
Through their projects, three companies will each employ 370 workers in the next three to four years. AC Subic Solar, Inc.’s project will begin operations by September 2027, AC Laguna Solar Inc.’s project will start by June 2027, and GigaWind1 Inc. will begin by March 2026.
Last July, BOI approved the P50-billion hyperscale data center by Narra Technology Development Park to be built in New Clark City, Tarlac, generating 3,000 jobs by October 2025.
BOI also approved Phil-tower Consortium Inc.’s 7,907 Built-to-Suit Common Towers in partnership with Australia’s Macquarie Capital last May 26. With a project cost of P52.158 billion, this 100 percent Singaporean-owned project will generate 340 jobs, operating by May next year.
NKS Solar One Inc. – to be built in Caliraya, Laguna with a 250-megawatt capacity – was approved by BOI on April 18. With a project cost of P14.9, the solar project is expected to generate 1,000 jobs, and to start operating by December 2024.
Under Executive Order 18, strategic investments can include highly desirable projects, foreign direct investments, and projects under the Strategic Investment Priority Plan (SIPP).
These projects include clean energy sources, green metals, electronics, defense-related projects, aerospace, electric vehicles manufacturing, pharmaceuticals, LNG storage and regulation, PPP and infrastructure projects, specialty hospitals, water treatment, supply and distribution, and new products and technologies.
In a Viber message to reporters, BOI Director for Investments Assistance Service Ernesto Delos Reyes Jr. explained that Greenlane projects will be expedited for permit release due to the BOI OSAC SI, a government entity monitoring the project.
This will ensure the Citizen Charter commitment of government agencies is carried out, allowing for quicker processing. For projects with incomplete requirements, permits must be issued immediately, or OSAC SI will endorse the matter to ARTA for approval.
https://mb.com.ph/2023/11/5/boi-approves-p336-b-green-lane-projects