The Board of Investments (BOI) has approved for green lane services to the P81.675-billion 450-megawatt Frontera Bay wind power project in offshore Cavite of
Ivisan Windkraft Corp.
The BOI in a statement said the green lane endorsement will expedite and streamline government transactions for this strategic investments.
Targeted to operate by 2028, the project will help the Philippines achieve its aim of producing 15.3 gigawatt of clean energy by 2030 as part of the Philippine Development Plan’s goal of having a secure, reliable, and clean energy mix.
The project is fully aligned with the administration’s goal of operating offshore wind turbines by 2028.
Offshore wind turbines can also become a new tourist attraction especially when the proposed bridge linking Cavite and Bataan is finished. .
The project will create 2,700 jobs in its pre-development, development, and operational phases.
The Philippines has a potential offshore wind resource of 178 GW. Large areas around the country’s coast have extractable wind sources.
“We endeavor to develop the offshore wind industry value chain in the Philippines and invite global offshore wind industry players to choose the Philippines as their hub in Southeast Asia,” said Ceferino Rodolfo, BOI managing head.
“The offshore wind industry has Filipinos around the world working as engineers, mariners, etc. Developing the ecosystem in the country aligns with our goals of bringing the OFWs home and investing in the capabilities of the Filipinos,” said Theo Sunico, vice president of Ivisan Windkraft.
