BOI endorses P2.32 trillion projects for green lane processing

MANILA, Philippines — The Board of Investments (BOI) has approved P2.32 trillion worth of investments for strategic projects for green lane processing.

Data released by the BOI showed that the One-Stop Action Center for Strategic Investments (OSAC-SI) has certified a total of 74 projects worth P2.32 trillion for green lane services as of June 20 this year.

Of the 74 projects, 65 projects worth P1.95 trillion are in the renewable energy (RE) sector.

Five projects worth P338.23 billion cover digital infrastructure, while two projects amounting to P3.40 billion concern food security, and two projects valued at P29.61 billion are in manufacturing.

Out of the 74 projects, the 32 projects with investments amounting to P1.31 trillion are already registered with the BOI.

Meanwhile, 42 projects endorsed for green lane services with a total cost of P1.02 trillion, are still being eyed for registration.

Of these 42 projects, 40 projects worth P920.84 billion involve RE, while two projects amounting to P102.16 billion cover digital infrastructure.

BOI data also showed that 59 projects with a total cost of P792.71 billion are applying for green lane processing.

Of these 59 projects, 37 projects amounting to P709.36 billion are in the RE sector.

Also in the pipeline for green lane endorsement are 19 food security projects worth P9.98 billion,  two digital infrastructure projects amounting to P22.57 billion and one manufacturing project costing P50.8 billion.

Last year, the BOI approved 22 projects worth P432.91 billion for green lane processing.

Executive Order (EO) 18 issued in February last year, directed the creation of green lanes to expedite, streamline and automate government processes for the entry of strategic investments.

Under EO 18, the OSAC-SI, which serves as the single point of entry for all projects qualified as strategic investments, will endorse these projects to concerned national government agencies, local government units and/or quasi-judicial bodies for processing of permits and licenses.

As part of facilitating entry of strategic investments, the BOI OSAC-SI said it reviewed existing policies regarding the issuance of tree cutting permits (TCP)  by the Department of Environment and Natural Resources (DENR) and has proposed that the Department of Energy issue a Special Power of Attorney to RE developers, as stipulated in the service contracts, to enable green lane-certified projects to acquire the TCP without needing a land title.

The BOI said the DENR has committed to revisit their guidelines to streamline application requirements.

The OSAC-SI is also working with the  National Grid Corp. of the Philippines on green lane projects and the parties have agreed the latter will prioritize and expedite the processing of system impact studies and applications for connectivity to the grid submitted by green lane projects.