BOI endorses P75-billion renewable energy projects 

The Board of Investments (BOI) has granted endorsement certificates for green lane treatment to four renewable energy projects of Vena Energy with combined investments of P75 billion, according to a report by Philippine News Agency.

In a statement on Thursday, BOI said Trade Undersecretary and BOI Managing Head Ceferino Rodolfo handed over the certificates to Vena Energy's units Opus Solar Energy Corp., Gemini Wind Energy Corp., and Ixus Solar Energy Corp.

Opus Solar is building a 416-megawatt-peak (MWp) Opus Solar Power, while Ixus Solar is constructing the 301-MWp Aguila Solar Power and 474-MW Bugallon Solar Power.

Vena's wind energy unit, Gemini Wind Energy Corp., is also investing for the 200-MW Gemini Wind Power Project.

BOI said the four RE projects will generate 8,000 jobs.

As of Feb. 19, BOI has issued green lane endorsement for 184 strategic investments with capital amounting to PHP4.61 trillion.

President Ferdinand R. Marcos Jr. issued Executive Order 18 in February 2023 mandating the creation of green lanes as part of efforts for ease of doing business and promoting strategic investments.

Obtaining green lane status expedites permit and license issuance, including resolving strategic investment issues.

Expansion projects

Meanwhile, Philippine Economic Zone Authority (PEZA) Director General Tereso Panga posted on his Facebook account that Chinese firm Panhua and the Alsons Group are embarking on "big expansion projects" in General Santos City.

"For Alsons, initial 100 hectares for expansion. We are also trying to get additional areas from CAAP (Civil Aviation Authority of the Philippines)-GenSan Airport for aerotropolis zone pursuant to MOA (memorandum of agreement)," Panga said in a text message.

The plan for an aerotropolis zone started with a memorandum of understanding between PEZA and CAAP in February 2022 to build an aerotropolis ecozone for aviation industry-related enterprises.

Panga also signed a registration agreement with Daikyo International Philippine Inc. on Feb. 20 as a new domestic enterprise.

The Japanese manufacturer will produce adhesive sheets and sticky traps at Carmelray Industrial Park I-Special Economic Zone (CIP I-SEZ) in Laguna.

"Dedicated to sustainability, the company aims to operate in full compliance with legal regulations while promoting health, safety, and environmentally responsible practices," PEZA said in a statement.

"Notably, its innovative products will help farmers reduce pesticide use, increase profitability, and contribute to the overall growth and sustainability of the agribusiness sector," it added.

BOI and PEZA are both investment promotion agencies of the Department of Trade and Industry.