The Board of Investments (BOI) awarded green lane certificates of endorsement to Upgrade Energy Philippines Inc. (UGEP) for two solar power projects, furthering the government’s commitment to expediting strategic investments in renewable energy.
As the global shift toward clean energy accelerates, the Philippines is bolstering efforts to facilitate renewable energy projects through Executive Order No. 18.
The BOI awarded green lane certificates to the 56.771-megawatt Cabangan Solar Project in Zambales and the 47.001-MW Pontevedra Solar Power Project in Capiz. Estimated project costs are P2.11 billion and P1.51 billion, respectively.
Trade Undersecretary and BOI managing head Ceferino Rodolfo expressed optimism about further expansion into onshore wind energy and the integration of solar power with battery storage as technology advances and costs decrease.
Rodolfo cited the need for responsible project implementation, particularly minimizing environmental impacts related to tree cutting and land use.
The UGEP solar power projects are expected to generate up to 331 temporary and permanent direct jobs during construction and commissioning, followed by long-term roles in operations and maintenance over the 25-year project life.
The projects will also support infrastructure development and community growth with additional tax revenue and investment in local businesses.
“With the Board of Investment’s green lane facilitation, our projects will benefit from streamlined processing of permits and licenses, ensuring swift and efficient collaboration with national and local agencies,” said UGEP president and chief executive Ruth Yu-Owen.
“This endorsement not only validates our vision but also energizes our resolve to deliver a transformative renewable energy initiative that will power thousands of homes, reduce carbon emissions, and set a bold precedent for future green investments,” she said.
UGEP, a leading project development, engineering, procurement and construction company specializing in renewable energy solutions, said the projects are among 184 strategic investments endorsed by the BOI’s One-Stop Action Center for Strategic Investments (OSAC-SI) for green lane services, with a total project cost of P4.614 trillion.
About 149 projects, worth P4.211 trillion, are in the renewable energy sector.
The BOI-OSACSI said it would expedite the processing of permits and licenses for the endorsed projects, ensuring the rapid realization of renewable energy investments in the country.