BOI endorses P108 billion wind power projects for green lanes

MANILA, Philippines — The Board of Investments (BOI) has granted green lane status to the five onshore wind energy projects of Cleantech Global Renewables Inc. (CTGRI) worth P108 billion for faster processing of permits.

BOI Investments Assistance Center executive director Bobby Fondevilla formally handed over the certificates of endorsement to representatives of CTGRI and its subsidiary Cleantech Renewable Energy 50 Corp. for the five projects located in Central Luzon and Calabarzon.

These five projects are the 144-megawatt Tayabas North Wind Power Project worth P18.29 billion, Tayabas South Wind Power Project amounting to P22.9 billion, 187.2-MW Bulacan 1 Wind Power Project with a cost of P24.10 billion, the 237.6-MW Bulacan 2 Wind Power Project worth P28.79 billion and the 86.4-MW Maragondon Wind Power Project amounting to P13.95 billion.

These projects are expected to generate more than 3,000 jobs.

The green lane certification is part of the government’s initiative to streamline and fast-track strategic investments in the renewable energy sector as the country aims to achieve sustainable development and energy security.

The aim of the green lane initiative is to expedite and simplify the permitting and licensing processes for strategic investments.

CTGRI is a 100 percent Filipino-owned independent power producer and renewable energy developer.

Established in 2014, the company has focused on developing a portfolio of clean energy projects primarily in solar and wind technologies.

To date, it has an aggregate capacity of 650 MW of solar plants either in operation or under construction.

In addition, it has over 5,000 MW worth of renewable energy projects at various stages of development.

As of end-June, the BOI has approved 222 projects with a total project cost of P5.75 trillion for green lane processing.

Of these projects, 176 are in the renewable energy sector, 31 in food security, nine in digital infrastructure and public-private partnerships and six in manufacturing.