The Board of Investments (BOI) approved another renewable project of ACEN Corp., its 8th solar plant for green lane certification.
ACEN’s SanMar Solar project, developed by subsidiary Santa Cruz Solar Energy Inc. (SCSEI), aims to generate 587megawatt-peak of solar energy once fully operational.
The green lane certificate, formally presented to ACEN by BOI officials on Aug. 29, 2024, is expected to expedite the project’s development.
SanMar Solar, located in Zambales, is being developed in three phases, with the first two phases under construction and targeted for commercial operation by the third quarter of 2024. Phase 3 is scheduled for completion by the fourth quarter of 2025.
The project is expected to create opportunities for 2,000 skilled workers at its peak and generate a workforce of 3,600 for phases 1 and 2 alone.
ACEN expressed gratitude for the BOI’s support, emphasizing their commitment to collaborating with the government to accelerate the nation’s transition to renewable energy.
The Investment Assistance Service (IAS) of the BOI assured ACEN executives of full government support throughout the project’s lifecycle.
ACEN, the publicly listed energy platform of the Ayala Group, is a leading player in the renewable energy sector with a growing presence across several countries including the Philippines, Australia, Vietnam, India, Indonesia, Lao PDR and the US.
The company manages 4.8 GW of attributable renewable energy capacity.
The BOI said that as of August 2024, the green lane initiative had approved 115 projects, representing a massive P3.2 trillion in investments.
