Philippines’ Board Of Investments Approves P336 Billion Worth Of Green Projects

Representational image. Credit: Canva

The Board of Investments (BOI), the primary agency for investment generation and promotion in the Philippines, has given the green light to 16 projects with a total investment of P336 billion and the creation of 32,730 jobs. These projects fall under the “green lane processing” category, which expedites the release of permits and licenses for strategic investments.


Among the sectors represented in these projects are renewable energy generation and tower infrastructures, with an expected operational timeline from 2024 to 2027.


One notable project is SunAsia Energy Inc.’s P66-billion floating solar project in Laguna de Bay, with a capacity of 1,300 megawatts. This project, approved in April, is expected to create 12,200 jobs and is set to begin operating by February 2026 in partnership with Singapore’s BlueLeaf Energy and Australia’s Macquarie Capital.


In October, three solar power plant projects and a wind power project were also approved. These solar projects, owned by Ubay Solar Corp., Magallanes Solar Energy Corporation, and Intramuros Solar Energy Corporation, are set to start operations by December 2025.

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The Laguna Wind Energy Corp.’s P10.85 billion Kalayaan 2 Wind Power Project, with 62.5 per cent foreign ownership, is expected to generate jobs as well. Other projects include a steel mill, telecommunications tower infrastructure, floating solar power plants, a hyperscale data center, common towers, and more, all contributing to job creation and investments in various sectors. These projects align with the Philippines’ Strategic Investment Priority Plan (SIPP) and aim to promote clean energy, green technologies, and other strategic initiatives. Green lane processing expedites permit issuance to facilitate quicker project development.

BOI Director for Investments Assistance Service, Ernesto Delos Reyes Jr., emphasized that green lane projects will benefit from expedited permit release through the BOI OSAC SI, ensuring timely processing and adherence to government agency commitments. This initiative supports the government’s commitment to streamlining processes and fostering investment in the Philippines.

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