MANILA, Philippines — The Board of Investments (BOI) has granted the green lane processing requests for several projects of ACEN Corp. located in Laguna Lake, as part of the government’s efforts to accelerate the realization of green investments in the country.
In a statement yesterday, the BOI said the projects approved for green lane processing include SolarAce4, AC Laguna, AC Subic, GigaWind1, and Ingrid Floating Solar Power Plants.
The BOI said these projects are consistent with the government’s mission to accelerate the growth of eco-friendly investments in the country.
In line with the approval, the five renewable energy projects are now identified and designated as strategic investments, which are expected to be completed by 2026 and 2027.
Obtaining green lane status expedites permit and license issuance, including resolving strategic investment issues, according to the BOI.
SolarAce4 covers 100 hectares of the lake surface area in Santa Cruz, Laguna, and will produce 140-megawatt peak (MWp) of clean energy, while 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.
In addition, the AC Subic floating solar power plant, occupying 200 hectares of lake surface area in Victoria and Santa Cruz, Laguna, is expected to produce 280MWp of clean energy, while the GigaWind1 floating solar power plant covers 200 hectares of lake surface area in Kalayaan and Paete, Laguna, and will generate 280MWp of sustainable energy.
The Ingrid floating solar power plant is located on 100 hectares of lake surface area in Lumban, Laguna, and will produce 140MWp of clean energy.
“At the forefront of Asia Pacific’s renewables revolution, ACEN is the first energy company in Southeast Asia to announce a net zero roadmap,” the BOI said.
ACEN is the renewable energy platform of the Ayala Group.
Its portfolio continues to grow with new solar and wind farms under construction in the Philippines, Australia, Vietnam, Lao PDR, and India.
ACEN aims to be the largest listed renewables platform in Southeast Asia and is targeting to reach 20 GW of renewable capacity by 2030. Its key markets are the Philippines, Australia, Vietnam, Indonesia, India.
Trade Undersecretary and BOI managing head Ceferino Rodolfo awarded the Green Lane Certificates of Endorsement to ACEN president and CEO Eric Francia in an awarding ceremony at the BOI main office in Makati City on Sept. 6.
The investment promotion agency said the green lane status would speed up and streamline the process and requirements for the issuance of permits and licenses, including of issues concerning strategic investments.