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ACEN’s P38 billion wind project OK’d for green financing

Catherine Talavera - The Philippine Star
ACEN�s P38 billion wind project OK�d for green financing
Trade Undersecretary and BOI managing head Ceferino Rodolfo emphasized the support of the BOI for the success of the Isla wind project, as it would heed the increasing demand for renewable energy sources.
STAR / File

MANILA, Philippines — The Board of Investments (BOI) has endorsed ACEN Corp.’s P37.7 billion wind power project in the provinces of Laguna and Quezon for green lane processing.

In a statement yesterday, the BOI said its One-Stop Action Center for Strategic Investments has awarded the Green Lane Certificate of Endorsement to ACEN’s 335 megawatt (MW) Isla wind power project.

“This ambitious project is set to provide clean, sustainable energy to consumers while creating a wealth of job and livelihood opportunities for Filipinos,” the BOI said.

Trade Undersecretary and BOI managing head Ceferino Rodolfo emphasized the support of the BOI for the success of the Isla wind project, as it would heed the increasing demand for renewable energy sources.

ACEN aims to start supplying energy to the grid commercially by the fourth quarter of 2025, boosting the economy with 1,540 jobs for Filipinos.

The project also aims to provide revenue, tourism opportunities, and community projects for the host LGUs.

“We’re grateful for the BOI for the green lane endorsement to help expedite processes and requirements for our new landmark wind project. This support sets the precedent for our continuous collaboration with the government to accelerate the country’s renewables share,” ACEN senior vice president for development Rodrigo San Pedro Jr. said.

Receiving the green lane endorsement will expedite and streamline government transactions for the project, which is classified as a strategic investment.

In September, the BOI endorsed several projects by ACEN located in Laguna Lake for green lane processing as part of the government’s efforts to accelerate the realization of green investments in the country.

Among the earlier approved projects for green lane processing were SolarAce4, AC Laguna, AC Subic, GigaWind1, and Ingrid Floating Solar Power Plants.

The BOI said these projects are consistent with the government’s mission to accelerate the growth of eco-friendly investments in the country.

SolarAce4 covers 100 hectares of the lake surface area in Santa Cruz, Laguna, and will produce 140-megawatt peak (MWp) of clean energy, while the AC Laguna floating solar power plant is located on 200 hectares of lake surface area in Victoria and Pila, Laguna, and will generate 280MWp of clean energy.

In addition, the AC Subic floating solar power plant, occupying 200 hectares of lake surface area in Victoria and Santa Cruz, Laguna, is expected to produce 280-MWp of clean energy, while the GigaWind1 floating solar power plant covers 200 hectares of lake surface area in Kalayaan and Paete, Laguna, and will generate 280-MWp of sustainable energy.

The Ingrid floating solar power plant is located on 100 hectares of lake surface area in Lumban, Laguna, and will produce 140MWp of clean energy.

ACEN, the listed energy platform of the Ayala Group, aspires to the largest renewable energy platform in Southeast Asia, with a goal of reaching 20 GW of renewable capacity by 2030.

Its key markets are the Philippines, Australia, Vietnam, Indonesia, and India.

In February, the Office of the President approved Executive Order 18, which aims to hasten, simplify, and automate the permit and license application processes for strategic investments. The measure was officially launched in July.

Operating as the sole entry point for these investments, OSACSI will expedite the endorsement of the project’s permit and license procedures, ensuring the swift realization of strategic investments in the country.

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