MANILA – The Board of Investments (BOI) has given a significant boost to two solar power initiatives by Upgrade Energy Philippines, Inc. (UGEP), endorsing them for expedited permit and license processing across various government levels. The BOI issued Green Lane Certificates of Endorsement for the PHP2.11-billion Cabangan Solar Project in Zambales and the PHP1.51-billion Pontevedra Solar Power Project in Capiz. The Cabangan project is set to produce 56.77 megawatts of clean energy, while the Pontevedra project will contribute 47 megawatts of renewable energy. Ruth Yu-Owen, president and CEO of UGEP, expressed that the green lane facilitation by the BOI will streamline the project’s bureaucratic processes, enhancing cooperation with both national and local government bodies. She emphasized that this endorsement not only affirms their commitment to renewable energy but also propels their efforts to provide sustainable power to numerous households, decrease carbon emissions, and establish a model for future green investments. Additionally, these projects are expected to create up to 331 jobs during their construction and operational phases. The BOI’s One Stop Action Center for Strategic Investments has now endorsed a total of 184 projects for green lane processing, amounting to PHP4.61 trillion in investments, with 114 of these projects in the renewable energy sector, representing potential investments of PHP4.21 trillion.
Philippines Fast-Tracks $65 Million Solar Projects with Green Lane Endorsement
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