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Friday, March 1, 2024

P10.85-billion wind project in Laguna endorsed for green lane approval

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The Board of Investments (BOI), through its One-Stop Action Center for Strategic Investments (OSACSI), endorsed the Kalayaan 2 Wind Power Project of Laguna Wind Energy Corp. (LWEC) in Paete and Kalayaan, Laguna for fast approval. 

OSACSI governor-in-charge Marjorie Ramos-Samaniego awarded the certificate of endorsement, under Executive Order (EO) No. 18 which constitutes the Green Lanes for Strategic Investments, to LWEC representatives at the BOI’s Main Office in Makati City on Oct. 23, 2023. 

The project, with an investment cost of P10.85 billion, is set to start commercial operations by 2026 and is expected to generate at least 30 direct and 500 indirect jobs.

The wind power project aims to harness renewable wind resources to power industries and promote sustainable and greener economic growth. 

The Blue Circle (TBC), through its subsidiary Laguna Wind Energy Corp. (LWEC), is developing the Kalayaan 2 wind power project to widen its presence in the Philippines, with an overall portfolio of more than 2.5 GW worth of renewable energy projects in development.

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The Kalayaan 2 project’s footprint will cover 70 hectares of land with an installed 100.8 MW of clean energy capacity utilizing the latest state-of-the-art wind turbine generator technology.  

Aligned with the Department of Energy’s target of 35-percent share of renewable energy in the power generation mix by 2030, the Kalayaan 2 project will contribute to accelerating the Philippines’ goal to reduce harmful greenhouse gas emissions while promoting economic growth in the project’s region and protecting the health and environment of its stakeholders. 

Approved by the Office of the President on Feb. 24 this year, EO 18 aims to expedite, streamline and automate processes on the application of permits and licenses of strategic investments. As the single entry of strategic investments, OSACSI will be facilitating the processing of permits and licenses of the endorsed project to ensure the fast realization of energy investments in the country. 

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