THE Board of Investments (BOI) on Thursday said that from January to April, it has certified 14 projects worth P340.07 billion under the Green Lane initiative.
Executive Order 18, which mandates the Green Lane for Strategic Investments program, streamlines the approval process for high-impact projects by providing a single-entry point for investors through the One-Stop Action Center for Strategic Investments (OSAC-SI).
“The approved projects send a clear signal to local and foreign investors that the Philippines is ready for more strategic investments,” Trade Secretary and BOI chairman Cristina Roque said.
The 14 projects will generate 37,828 jobs.
However, the total amount of investments was 46.13-percent lower than P631.223 billion in the same period a year ago.
Renewable energy (RE) accounted for P339.09 billion or 85.71 percent of approved projects for January to April.
Two food security projects comprised 14.29 percent of the total, with combined investments worth P980 million.
“The Green Lane initiative is driving a strong pipeline of strategic investments, with certified projects largely anchored in renewable energy to support sustainable and inclusive economic growth,” Bobby Fondevilla, BOI executive director of the Investments Assistance Center, said.
From February 2023 to April this year, a total of 237 projects have been Green Lane-certified with combined project costs worth P6.32 trillion and 421,451 jobs created.
RE projects dominated volume and value with 182 projects, P5.42 trillion in investments, and 272,583 jobs since 2023.
This year’s project approvals include large-scale wind and energy developments by Airstream Renewables Corp., Viento Energy 1 Corp., and San Jose Onshore Wind Power Corp.
Among the other RE projects are the Pangasinan Wind Farm with a project cost of P52.31 billion and projected employment of 10,560 workers; the Samar Wind Farm, valued at P43.59 billion with 8,800 jobs; the Nueva Ecija Wind Farm, also worth P43.59 billion with the same number of jobs; and the Bulalacao Bay Offshore Wind Project worth P88.32 billion with 2,200 jobs.
“Together, these projects account for more than P220 billion in investments and over 30,000 jobs for Filipinos,” the BOI said.
Further expanding RE capacity in the country are the San Jose Onshore Wind Power Corp. with a P30.92-billion project with 1,100 jobs; Ilosong Wind Corp., P16.13 billion and 1,200 jobs; Energia Pulita Energy Corp., P14.11 billion and 450 jobs; and Sembrano Wind Power Corp, P10.30 billion and 100 jobs.
These developments are complemented by 5Hour Peak Energy Corp.’s floating solar project worth P5.88 billion and 1,760 jobs, as well as hydropower projects by Alsons Energy Development Corp. and Oriental Energy and Power Generation Corp. with combined investments of over P11 billion and nearly 1,000 jobs.
The food security undertakings consist of Charoen Pokphand Foods Philippines Corp.’s livestock project in Cavite and Isabela worth nearly P1 billion with over 100 jobs.
