Buhawind Energy Philippines (BEP), a joint venture between Yuchengco-led PetroGreen Energy Corp. (PGEC) and Denmark’s Copenhagen Energy (CE), has obtained green lane certificate for its three offshore wind power projects with an aggregate target installed capacity of 4,000 gigawatts (GW) and an investment cost of P694 billion.
The Board of Investments (BOI) on Wednesday said it awarded to BEP the green lane certificate for the projects soon to operate in Northern Luzon, Northern Mindoro, and East Panay. From construction to the operation, the three projects are expected to generate over 50,000 jobs for Filipinos.
The 1.980 GW Northern Luzon OSW power project in Ilocos Norte is scheduled to begin operations in 2030. The 0.990 GW Northern Mindoro OSW will follow in 2031.
The 0.990 GW East Panay OSW by BuhaWind Energy East Panay Corp. in Iloilo and Guimaras is set to start in 2033.
A green lane certificate is awarded to projects that meet the criteria for strategic investments. It mandates expedited processing and permits needed by qualified investors from the government.
The partnership between PEGC and CEG began with co-developing projects off the Philippine coast in 2020 and was officially established as BuhaWind Energy Philippines in 2022. It has delivered over 1 GW of offshore and onshore wind projects across Europe and the Philippines and currently manages a global offshore wind development pipeline of 30 GW.
Copenhagen Energy Group (CEG), established in 2020, has a strong track record in renewable energy, with expertise in developing solar, onshore, and offshore wind projects exceeding 1 GW. The company continues to expand its development pipeline in key markets, including Denmark, Germany, and Sweden.
