Vena Energy’s P75 billion RE projects get green lane status

MANILA, Philippines — The Board of Investments (BOI) has endorsed Singapore-based Vena Energy’s wind and solar power projects worth P75 billion for green lane services for expedited processing of permits.

In a statement yesterday, the BOI said its One-Stop Action Center for Strategic Investments (OSAC-SI) awarded green lane certificates of endorsement to Opus Solar Energy Corp., Gemini Wind Energy Corp. and Ixus Solar Energy Corp., which are special purpose vehicles of Vena Energy.

The green lane certificates are for the following projects: 416.03-megawatt peak (MWp)/318.75-MW alternating current Opus Solar Power Project of Opus Solar Energy Corp., 200-MW Gemini Wind Power Project of Gemini Wind Energy Corp., 301.39-MWp Aguilar Solar Power Project and the Ixus Bugallon Solar Power Project both of Ixus Solar Energy Corp.

With the green lane certification, the projects will enjoy streamlined and faster approval and processing of permits.

Vena Energy’s projects are part of the 184 strategic investments worth P4.61 trillion endorsed by the OSAC-SI for green lane services as of Feb. 19, of this year.

Of these investments, 149 projects amounting to P4.21 trillion fall under the renewable energy (RE) sector.

Established through Executive Order 18 issued in February 2023, the green lane initiative streamlines the permitting and licensing process for strategic investments to boost economic growth and innovation in the country.

Vena Energy’s projects certified for green lane services will be developed across Luzon and Visayas.

These are expected to generate up to 8,000 direct job opportunities.

The company, which provides RE solutions in the Asia-Pacific, is committed to accelerating the transition to sustainable and affordable green energy while delivering economic, social and environmental benefits to host communities and stakeholders.

Vena Energy’s RE portfolio includes 43 gigawatt of onshore wind, solar and offshore wind projects, alongside a green infrastructure pipeline comprising 24 gigawatt-hour of battery energy storage systems, 620 MW of data centers and 840 million tons per annum of green hydrogen and ammonia production.

The company has over 1,000 employees across 87 corporate and site offices globally.