BOI grants green lane certification to P74-B RE projects

The Board of Investments (BOI) has granted green lane certification to two major renewable energy projects worth a combined PHP 73.9 billion, endorsing their swift processing through national and local government channels.

In a statement released on Friday, the BOI confirmed that the PHP 67-billion Lucena Wind Power Project had been awarded the green lane certificate. This offshore wind farm, which will span Lucena City and Sariaya in Quezon province, is designed to generate 475 megawatts of clean energy.

Additionally, the PHP 6.9-billion Bacolod Solar Power Plant Project, located in Bacolod City and Bago City in Negros Occidental, also received the green lane certification. This solar energy project, with a capacity of 150 megawatts, began construction in October 2024, with the project slated for completion by the end of 2025.

Nexif Ratch Energy Investments Pte. Ltd. (NREI), the developer behind both projects, is working through its subsidiaries to manage the initiatives. The Lucena wind power project will be overseen by ACX3 Capital Holdings Inc., while Negros PH Solar Inc. will operate the Bacolod solar plant.

Ernesto Delos Reyes Jr., Director of the BOI Investment Assistance Service, reassured investors of the government’s commitment to expediting the implementation of their projects. "Our goal is to ensure the smooth and timely completion of these initiatives, and we will be with you every step of the way," Delos Reyes affirmed.