THE Board of Investments (BoI) said that 13 more renewable energy (RE) projects were endorsed for green lane treatment, bringing investments eligible for expedited permit processing to more than P3.2 trillion by value.
鈥淎s of August, 115 projects have been approved (for) green lanes, with a total project cost of P3.204 trillion,鈥 the BoI said in a statement on Wednesday.
The 13 projects will cost a combined P210.46 billion. They consist of eight onshore wind projects, four solar projects, and an offshore wind project, the BoI said.
The government, through Executive Order (EO) No. 18, established the 鈥済reen lane鈥 at all government agencies to expedite the approval and registration process for priority or strategic investments.
The government is taking in increased investment in RE projects after it allowed full foreign ownership in the industry, which was previously limited to 40%.
In a separate release, the BoI said that it has officially awarded the green lane certificate of endorsement to A-FLOW Properties I Corp. for its 36-MW ML1 Data Center in Bi帽an, Laguna.
鈥淭he certificate awarded to A-FLOW marks a significant milestone in the country鈥檚 journey towards enhanced digital connectivity,鈥 Trade Undersecretary and BoI Managing Head Ceferino S. Rodolfo said.
鈥淕iven the growing need for larger information technology capacity, A-FLOW鈥檚 contribution will be vital in positioning the Philippines as a digital leader in the Asia-Pacific region,鈥 he added.
A joint venture between FLOW Digital Infrastructure and AyalaLand Logistics Holdings Corp., A-FLOW aims to help address growing demand for IT capacity in the Philippines, which is expected to grow over 180 MW in 2027. 鈥 Justine Irish D. Tabile
