The Department of Trade and Industry (DTI) endorsed P336.25 billion worth of investments for fast approval under the “green lane” system in the first 10 months of 2023.
Data from the Board of Investments showed that these involved 16 big-ticket projects, including 11 renewable energy facilities.
President Ferdinand Marcos Jr. signed Executive Order No. 18 on Feb. 23, 2023 to facilitate the entry of big-ticket projects and make investing in the Philippines easier. EO 18 or the Green Lane for Strategic Investments aims to expedite, streamline and automate government approval and registration processes for priority investments aligned with the Philippine Development Plan 2023 to 2028.
BOI Investments Assistance Service (IAS) Director Bobby Fondevilla said the projects under the green lane would 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 being processed through green lane are 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 a project cost of P14.9 billion.
Other RE projects are the Ayala-led AC Subic Solar Inc.’s project worth P12.49 billion; AC Laguna Solar Inc.’s P10.94-billion project; SolarAce4 Energy Corp.’s P6.25 billion floating solar power project; Ngrid2 Power Corp.’s P6.25-billion floating solar power project; and GigaWind1 Inc.’s P12-billion project in Laguna Lake.
Also included are Ubay Solar Corp.’ P5.29-billion solar power plant in Bohol; the P6.94-billion Barotac Viejo Power project of Magallanes Solar Energy Corp.; and the P2.59-billion Gamu solar power plant of Intramuros Solar Energy Corp.
The P10.85-billion Kalayaan 2 wind power project of Laguna Wind Energy Corp. is the sole wind power project endorsed for green lane approval.
Meanwhile, the non-energy projects endorsed for fast approval are the P52.15-billion built-to-suit common towers of Phil-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 bar project of Real Steel Corp.