The Board of Investments (BOI) awarded a green lane certificate of endorsement to FDC Renewables Corp. (FDC Renewables) for its P4.8-billion Pampang hydroelectric power project.
One of the strategic investments in the country, the 33.4-megawatt renewable energy project will utilize a run-of-river hydro scheme, contributing to the projected growth of Luzon’s energy demand.
The project, located across municipalities in Nueva Vizcaya and Pangasinan, benefits from the green lane program established by Executive Order No. 18. This expedites permits and licenses for strategic investments, particularly in the energy sector.
Trade Undersecretary and BOI managing head Ceferino Rodolfo said the project would significantly contribute to addressing Luzon’s energy needs.
FDC Renewables, a wholly owned subsidiary of FDC Utilities Inc., the utility arm of Filinvest Development Corp., views the project as crucial for energy security.
FDCUI president Juan Eugenio Roxas said its timely completion would not only improve Luzon’s energy supply but also create jobs and support development in nearby communities.
“This endorsement couldn’t have come at a more opportune time. With constant red and yellow alerts of the three grids, expediting the construction and completion of this Project will not only improve the energy supply for Luzon but will also generate jobs for hundreds of Filipinos and spur development to IP communities in the area,” he said.
FDC Renewables completed a feasibility study and is securing permits to begin construction which is expected to generate at least 300 jobs. The project is on track for completion by December 2028.
The BOI granted a total of 74 green lane certificates since the program’s inception in 2023.