The Board of Investments (BOI) has approved ACEN Corporation’s request for green lane processing of five floating solar energy projects in Laguna Lake in the Philippines. The projects granted green lane status are SolarAce4, AC Laguna, AC Subic, GigaWind1, and Ingrid Floating Solar Power Plant.
Additionally, the Department of Trade and Industry-BOI will establish a One-Stop-Action-Center for Strategic Investments (OSAC-SI), which will serve as the single point of entry for all qualified strategic investments, within six months from the issuance from the President. In line with Executive Order No. 18, the five renewable projects are now categorised as strategic investments and are expected to be completed by 2026 and 2027.
ACEN’s SolarAce4 project covers 100 hectares of the lake surface area in Santa Cruz and is expected to produce 140 MWp of clean energy. Meanwhile, the AC Laguna Floating Solar Power Plant is located on 200 hectares of lake surface area in Victoria and Pila and is expected to generate 280 MWp of clean energy. The AC SUBIC Floating Solar Power Plant will cover 200 hectares of lake surface area in Victoria and Santa Cruz and is also expected to generate 280MWp of clean energy.
Meanwhile, the GigaWind1 Floating Solar Power Plant will cover 200 hectares of lake surface area in Kalayaan and Paete and is also expected to generate 280 MWp of clean energy. Lastly, the Ingrid Floating Solar Power Plant will cover 100 hectares of lake surface area in Lumbanand and will produce 140 MWp of clean energy.
In February 2023, Order No. 18 was mandated for the creation of green lanes for ease of doing business and promoting strategic investments.