The Philippines’ Board of Investment (BOI) has approved 16 key infrastructure investment projects worth PHP336.3 billion for green lane processing. Of the total, around 11 are renewable energy (RE) projects, with a focus on solar and wind energy.
Some of the key projects approved include SunAsia Energy Incorporation’s PHP66 billion, 1,300 MW floating solar project in Laguna de Bay, NKS Solar One Incorporation’s PHP14.9 billion, 250 MW floating solar project in Caliraya, and Laguna Wind Energy Corporation’s PHP10.85 billion Kalayaan 2 wind power project.
Furthermore, the BOI has greenlit two telecommunication tower infrastructure projects including EdgePoint Towers Incorporation’s PHP50 billion common passive telecommunications tower infrastructure project.
These approvals are part of the Government of the Philippines’ green lanes initiative launched in July 2023, aimed at facilitating strategic investments by streamlining regulatory processes across multiple agencies. It is expected to increase the ease of doing business in the country and promote economic growth.