16 projects in green lane pipeline
THE Board of Investments (BoI) has 16 projects in the pipeline under its green lane for strategic investments with a total cost of P336.2 billion.
BoI Managing Head Ceferino Rodolfo said on Friday evening that 11 of the 16 are engaged in renewable energy (RE) projects consisting of 10 solar power plants and one wind power project; two telecommunication projects; two steel mills; and one for information technology or data center.
The projects in the BoI’s strategic investment pipeline are: SunAsia Energy Inc.’s 1,300 megawatt (MW) solar project in Laguna de Bay worth P66 billion that is expected to operational by February 2026 with a job generation of 12,200; NKS Solar One Inc.’s 250MW floating solar project in Caliraya, Laguna worth P14.9 billion expected to be operational by December 2024 and is expected to generate 1,000 total jobs; and Intramuros Solar Energy Corp.’s 70.786 MW peak or 59.840 MW alternating current plant in Gamu, Isabela worth P2.5 billion that will be operational by December 2025 and is expected to generate 700 jobs.
Magallanes Solar Energy Corp.’s 197.238 MW peak or 175.287 MW alternating current plant in Barotac Viejo, Iloilo worth P6.9 billion expected to generate 1,550 jobs and will become operational by December 2025; Ubay Solar Cop’s 155.833 MW peak or 137.480 MW alternating current plant in Ubay, Bohol amounting to P5.2 billion that will generate 1,550 expected jobs by December 2025; and Gigawind1 Inc.’s 280 MW peak or 210 MW alternating current floating solar project in Laguna Lake worth P12 billion that will be operational by March 2026 and will provide 370 jobs.
The Ayala-led Ingrid2 Power Corp. and Solar Ace4 Energy Corp.’s 140 MW peak and 105.003 MW alternating current each floating solar power project in Laguna Lake. Costing P6.25 billion each, the project is expected to be operational by March 2026 and December 2026, respectively, with 370 total jobs to be generated.
Additionally, AC Laguna Solar Inc. and AC Subic Solar Inc. each have a 280 MW peak or 210 MW alternating current plant, costing P10.9 billion and P12.4 billion, respectively. The projects will also be located in Laguna Lake, expected to generate 740 jobs, and will be operational by June 2027 and September 2027, respectively.
Also, the wind power project in Kalayaan 2 by Laguna Wind Energy Corp costs P10.8 billion with 30 jobs expected to be generated by July 2026.
Meanwhile, the two telecommunication projects are by Philtower Consortium Inc. for a built-to-suit common tower worth P52.1 billion, expecting to generate 340 jobs by May 2024; and EdgePoint Towers Inc.’s common passive telecommunications tower infrastructure worth P50 billion that will be operational by January 2027 and expected to provide 9,700 jobs.
As for the steel mill projects, SteelAsia Lemery Works Inc.’s 500,000-metric ton section mill will be located in Lemery, Batangas and is worth P19.3 billion. It is expected to generate 700 jobs and will be operational by July 2024.
The second steel mill project is by Real Steel Corp. for the manufacture of steel bars. It is worth P10.3 billion and will generate 480 jobs by December of next year.
Three out of the 16 projects are registered with the BoI.
“Not all are already registered in BoI. Or sometimes they will register down the line of process,” Rodolfo said.
Executive Order 18 mandates the establishment of green lanes in government offices for strategic investments. It was signed on behalf of President Ferdinand Marcos Jr. by Executive Secretary Lucas Bersamin on February 23, and was crafted to promote the Philippines as a top investment destination and aligned with the administration’s “continuing efforts of implementing ease of doing business reforms” and “measures that will expedite transactions with the government.”