The Board of Investments (BOI) is set to facilitate the approval for incentives of five floating solar power projects in Laguna Lake of ACEN Corp., granting them green lane endorsement.
In accordance with Executive Order No. 18 or “Constituting Green Lanes for Strategic Investments,” the five renewable energy (RE) projects are now identified and designated as strategic investments, which are expected to be completed by 2026 and 2027.
Obtaining green lane status expedites permit and license issuance, including resolving strategic investment issues.
For green lane processing are SolarAce4, AC Laguna, AC Subic, GigaWind1, and Ingrid Floating Solar Power Plants.
SolarAce4 covers 100 hectares of the lake surface area (ha) in Santa Cruz, and will produce 140-megawatt peak (MWp) of clean energy.
AC Laguna Floating Solar Power Plant – AC Laguna is located on 200 ha of lake surface area in Victoria and Pila, and will generate 280MWp of clean energy.
The AC Subic Floating Solar Power Plant, occupying 200 ha of lake surface area in Victoria and Santa Cruz, is expected to produce 280MWp of clean energy.
GigaWind1 Floating Solar Power Plant covers 200 ha of lake surface area in Kalayaan and Paete and will generate 280MWp of sustainable energy.
Ingrid Floating Solar Power Plant is located on 100 ha of lake surface area in Lumban and will produce 140MWp of clean energy.
Ceferino Rodolfo, BOI managing head, awarded the certificates of endorsement to ACEN Corp. officials led by its president and chief executive officer Eric Francia in a ceremony on September 6.
ACEN, established in 2011, is the renewable energy platform of the Ayala Group. Its portfolio continues to grow with new solar and wind farms under construction in the Philippines, Australia, Vietnam, Lao PDR, and India. ACEN aims to be the largest listed renewables platform in Southeast Asia and is targeting to reach 20 GW of renewable capacity by 2030. Its key markets are the Philippines, Australia, Vietnam, Indonesia, India.
