The Board of Investments (BOI) has granted green-lane certification to UPGRADE Energy Philippines Incorporation (UGEP) for two solar projects worth PHP3.62 billion. The certification, mandated under Executive Order 18, streamlines approvals for strategic investments, particularly in renewable energy.
The projects include the 56.771 MW Cabangan Solar Project in Zambales, valued at PHP2.11 billion, and the 47.001 MW Pontevedra Solar Project in Capiz, worth PHP1.51 billion. Together, they are expected to generate 331 direct jobs during construction and commissioning, with long-term employment in operations and maintenance over their 25-year lifespan.
With these approvals, the number of green-lane projects endorsed by the One Stop Action Center for Strategic Investments has reached 184, with renewable energy projects comprising the majority at PHP4.211 trillion.