The government’s Green Lane Services has facilitated P1.2 trillion investments in less than a year.
Ernesto Delos Reyes Jr., director of the One-Stop Action Center for Strategic Investments (OSACSI) said his office, since the issuance of Executive Order 18 for Green Lane Services, has endorsed 36 projects to date, the biggest of which is the P163-billion renewable energy (RE) project by Dutch firm CI NMF Ph Corp. called San Miguel Bay offshore wind power project.
The latest approved project is the P 22.6-billion floating solar power project Fuego Renewable Energy Corp. (FREC) in Pantabangan, Nueva Ecija.
Delos Reyes said 28 of these projects are in RE: floating solar, solar, onshore wind, offshore wind and geothermal.
In 2023 alone, 23 projects were endorsed totaling P498.91 billion, of which 16 are RE.
EO 18 established green lanes within government agencies. With green lanes, through OSACSI, the process to grant permits and licenses for strategic energy investments in the country will be expedited.
OSAC-SI issues endorsement letters to the national government agencies and local government units designating projects as strategic investments and ensuring swift processing within prescribed timelines under EO 18.
Meanwhile, OSACSI granted green lane certificate to FREC for the
Pantabangan floating solar power plant, a 463.995 megawatts floating solar photovoltaic ) project in 500 hectares area in Pantabangan Lake.
The project is scheduled for commissioning in 2025, with its energy output destined for export to the national grid.
The project site is located within the Pantabangan-Carranglan Watershed Forest Reserve. The location of the transmission lines and other facilities onshore will fall under the protected area/watershed classification.
The project will generate up to 2,000 direct jobs during construction, commissioning, operations, and maintenance.
