The Board of Investments (BOI) awarded the green lane certification to Buhawind Energy Philippines (BEP), a joint venture between PetroGreen Energy Corp. (PGEC) and Denmark’s Copenhagen Energy (CE), for its three offshore wind power projects with an aggregate target installed capacity of 4,000 gigawatts (GW).
The projects, with an investment amount of P694 billion, will soon 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.
BOI Governor Marjorie Ramos-Samaniego told the officials of BEP that the BOI OSAC-SI team Is committed to assisting the company, and the green lane will help in expediting the process for obtaining the projects’ permits and licenses.
Meanwhile, Charoen Pokphand Foods (CPF) Philippines Corp. became the first agricultural project recipient of a green lane certification.
CPF’s P10.55-billion investment involves the establishment of 20 breeding farms across Nueva Ecija, Ilocos Norte and South Cotabato provinces.
The breeding farms will create 1,250 jobs and employ advanced farming systems. CPF will lease farms to breed parent stock (PS) pigs, producing thousands of weaned piglets annually, which will then be transferred to grow-out farms for market production.
Data from the BOI showed that as of Nov. 14, 2024, the One-Stop Action Center for Strategic Investments (OSACSI) certified 167 projects under the green lane initiative, with the latest running value of P4.45 trillion.
The Green Lane initiative, introduced through Executive Order No. 18 in February 2023, aims to streamline the permitting and licensing processes for strategic investments.
The program seeks to attract projects that drive innovation and economic progress in the Philippines by facilitating the ease of doing business (EODB).
