THE Board of Investments (BOI) has endorsed the two offshore wind energy investments of Vind Energy Corp. worth P331 billion for a faster processing and issuance of business permits and licenses and other related requirements to operate its projects.
The two projects involve a 994-megawatt (MW) capacity of clean offshore wind energy in Cavite and another 728-MW facility in Guimaras. Both projects will be using a fixed-bottom offshore wind technology.
The BOI said these two offshore wind energy projects were part of the P3-trillion green lane certified projects reported by President Ferdinand R. Marcos Jr. in his third State of the Nation Address last month.
The certificate of green lane endorsement for the projects was received by Corio Generation development director Alma Roxas-Aguila.
Corio, a portfolio company of Australia-based Macquarie Asset Management, is a shareholder in Vind Energy that specializes in offshore wind development.
âWe greatly appreciate the governmentâs support for renewable energy, particularly offshore wind. These green lane certifications are crucial for our project development and efforts in helping the country reach its decarbonization targets,â Roxas-Aguila said.
The green lane certificate is being issued by the One-Stop Action Center for Strategic Investments (OSAC-SI) under the BOI.
It was created following President Marcos’ signing of Executive Order 18 in February 2023 directing all national government agencies and local government units to establish a green lane to fast track the processing of required permits and licenses for projects with significant impacts for the country. (Philippine News Agency)
