BOI grants green lane status to ACEN’s five solar projects

The Board of Investments (BOI) on Thursday said it has given the thumbs up for Ayala-led ACEN Corporation’s request for green lane processing of five floating solar energy projects located within Laguna Lake.

In a statement, BOI said the projects granted green lane status were SolarAce4, AC Laguna, AC Subic, GigaWind1, and Ingrid Floating Solar Power Plant.

The renewable energy projects are consistent with the Philippine government's mission to accelerate the growth of eco-friendly investments in the country, according to the investment promotion agency.

In February, President Ferdinand Marcos Jr. issued Executive Order No. 18 mandated the creation of green lanes as part of efforts for ease of doing business and promote strategic investments. 

Strategic investments are those which are aligned with the Philippine Development Plan or any similar national development plan and can be characterized by the significant capital or investment to the country; consequential economic impact; positive impact on the environment; significant contribution to the country’s balance of payments; with complex technical processes and engineering designs; and will improve the country’s infrastructure capabilities.

As stated in the EO, the Department of Trade and Industry-BOI shall establish a One-Stop-Action-Center for Strategic Investments (OSAC-SI), which shall serve as the single point of entry for all projects qualified as strategic investments, within six months from the issuance of this latest order from the President.

The BOI said that, in accordance with Executive Order No. 18, the five renewable projects “are now identified and designated as strategic investments, which are expected to be completed by 2026 and 2027.”

The agency said that obtaining green lane status expedites permit and license issuance, including resolving strategic investment issues.

ACEN’s SolarAce4 project covers 100 hectares of the lake surface area in Santa Cruz, Laguna, and will produce 140-megawatt peak (MWp) of clean energy.

Meanwhile, the AC Laguna Floating Solar Power Plant is located on 200 hectares of lake surface area in Victoria and Pila, Laguna, and will generate 280MWp of clean energy.

The AC SUBIC Floating Solar Power Plant, meanwhile, will be occupying 200 hectares of lake surface area in Victoria and Santa Cruz, Laguna, and is expected to produce 280MWp of clean energy.

Moreover, GigaWind1 Floating Solar Power Plant covers 200 hectares of lake surface area in Kalayaan and Paete, Laguna, and will generate 280MWp of sustainable energy.

Lastly, Ingrid Floating Solar Power Plant is located on 100 hectares of lake surface area in Lumban, Laguna, and will produce 140MWp of clean energy.

ACEN, established in 2011, is the renewable energy platform of the Ayala Group.

Its portfolio includes solar and wind farms under construction in the Philippines, Australia, Vietnam, Lao PDR, and India.

ACEN is aiming to be the largest listed renewables platform in Southeast Asia and is targeting to reach 20 GW of renewable capacity by 2030.—LDF, GMA Integrated News