P336 billion worth of investments endorsed for Green Lane approval

The Department of Trade and Industry (DTI) endorsed P336.25 billion worth of investments projects for Green Lane processing by the Office of the President.

These include 16 big ticket projects which are mostly renewable energy investments.

Based on data from the Board of Investments (BOI), 11 out of 16 projects endorsed for Presidents approval are RE projects.

BOI Investments Assistance Service (IAS) Director Bobby G. Fondevilla said the projects under Green Lane for Strategic Investments will be fast-tracked through the BOI One-Stop-Action-Center for Strategic Investments (OSAC-SI).

“Under the Green Lane, the period of  processing of permits should not go beyond  what is provided under the agency's Citizen's Charter provided that complete documentary requirements are submitted and permits can be filed simultaneously,” he said.

Among the RE projects in the Green Lane, biggest is the P66 billion floating solar project of SunAsia Energy Inc. in. Laguna de Bay, followed by NKS Solar One. Inc.’s 250 megawatt solar floating power project in Caliraya Laguna with project cost of P14.9 billion.

Other RE projects in the Green Lane are the Ayala-led AC Subic Solar, Inc. worth P12.49 billion, AC Laguna Solar, Inc. worth P 10.94 billion, SolarAce4 Energy Corp.’s P6.25 billion floating solar power project, ngrid2 Power Corp.’s P6.25 billion floating solar power project and the GigaWind1, Inc.s P12 billion. All  projects are floating solar power projects located in Laguna Lake.

The P5.29 billion Ubay Solar Corp. is a solar power plant project in the province of Bohol.

Two more solar power projects complete the solar power project portfolio for the recent batch of projects in the Green Lane. These are the P6.94 billion Barotac Viejo Power project of Magallanes Solar Energy Corporation and the P2.59 billion Gamu solar power plant of Intramuros Solar Energy Corporation.

The P10.85 billion Kalayaan 2 wind power project of Laguna Wind Energy Corp. is the sole wind power project in the Green Lane, as of the moment.

Other non-energy projects in the Green Lane are the P52.15 billion built-to-suit common towers of Phil-t\Tower Consortium Inc.; the P50 billion Project Charlie Hyperscale Data  Center in New Clark City, spearheaded by Narra Technology Development Park; SteelAsia Lemery Works Inc.’s P19.3 billion section mill project;

EdgePoint Towers Inc.’s P50 billion common passive telecommunications tower infrastructure; and the P10.3 billion reinforcing steel bats project of Real Steel Corporation.

EO 18 or the Green Lane for Strategic Investments is meant to expedite, streamline, and automate government approval and registration processes for priority investments aligned with the Philippine Development Plan 2023 to 2028.

The President signed EO 18 on February 23, 2023 to better facilitate the entry of big-ticket projects and make investing in the Philippines easier.