Cavite offshore wind project endorsed for green lane processing

MANILA, Philippines — The Board of Investments has endorsed a 450 megawatt (MW) offshore wind power project located in Cavite for green lane processing, saying this is in line with the government’s goal of developing the offshore wind industry value chain in the country.

In a statement yesterday, the BOI said its One-Stop Action Center for Strategic Investments (OSACSI) has awarded the green lane certificate of endorsement to Ivisan Windkraft Corp. for its Frontera Bay Wind Power Project in offshore Cavite.  This marks the first offshore wind power project to be approved for green lane services.

“Significantly, the project will help the Philippines achieve its aim of producing 15.3 GW (gigawatts) of clean energy by 2030 as part of the Philippine Development Plan’s goal of having a secure, reliable, and clean energy mix,” the BOI said.

The project, with an initial cost of P81.675 billion,  is targeted to begin operations with the term of the current administration.

According to the BOI, the Philippines has a potential offshore wind resource of 178 GW, saying  that large areas around the country’s coast have extractable wind sources.

“We endeavor to develop the offshore wind industry value chain in the Philippines and invite global offshore wind industry players to choose the Philippines as their hub in Southeast Asia,” Trade Undersecretary and BOI managing head Ceferino Rodolfo said.

“What we want to show is that the offshore wind industry has Filipinos around the world working as engineers, mariners, etc. Developing the ecosystem in the country aligns with our goals of bringing the OFWs home and investing in the capabilities of the Filipinos,” Ivisan Windkraft Corp. vice president Theo Sunico said.

Meanwhile, the BOI said the offshore wind turbines of the project can also become a new tourist attraction, especially when the proposed bridge linking Cavite and Bataan is finished.

It said the project is fully aligned with the administration’s goal of operating offshore wind turbines by 2028.

Aside from the impact of having wind energy tourism, training and development will also be provided to neighboring communities which could lead to growth in local business opportunities, according to the BOI.

The project is expected to create 2,700 jobs in its pre-development, development, and operational phases.

Receiving the green lane endorsement will expedite and streamline government transactions for the project, which is classified as a strategic investment.

In February, the Office of the President approved Executive Order 18, which aims to hasten, simplify, and automate the permit and license application processes for strategic investments. The measure was officially launched in July.

Operating as the sole entry point for these investments, OSACSI will expedite the endorsement of the project’s permit and license procedures, ensuring the swift realization of strategic investments in the country.