The Board of Investments (BOI) has granted green lane status to Buhawind Energy Philippines (BEP) for its offshore wind power projects, worth nearly PHP700 billion and with a total installed capacity of 4,000 MW in the Philippines. BEP’s three projects, located in Northern Luzon, Northern Mindoro, and East Panay, are expected to boost the country’s renewable energy (RE) capacity.
The projects include a 1.98 GW offshore wind farm in Ilocos Norte, scheduled to begin in 2030, a 990 MW facility in Northern Mindoro slated for 2031, and a 990 MW wind project in East Panay set to start in 2033. The green lane certification will expedite the permit and licensing process, helping streamline BEP’s development efforts. The initiative aligns with the Philippines’ energy transition goals and economic development strategies, contributing significantly to the nation’s RE infrastructure.
