Investments deemed eligible for green-lane treatment hit P4.46T

THE Board of Investments (BoI) has endorsed for green-lane treatment 167 projects worth P4.457 trillion, or $75.87 billion, to the One-Stop Action Center for Strategic Investments as of mid-November.

Renewable energy (RE) projects account for P4.07 trillion of the green-lane certified projects. These investments were proposed for 136 projects.

Investments in RE projects increased after the government allowed full foreign ownership in the industry, which was previously capped at 40%.

Established through Executive Order No. 18 in February 2023, green lanes aim to accelerate and simplify the permit and licensing processes for strategic investments.

Six digital projects worth P346.33 billion were also endorsed for green-lane treatment, while 22 projects related to food security worth P13.95 billion were also endorsed.

Meanwhile, three manufacturing projects worth P29.61 billion were also given green-lane status.

RECENT CERTIFICATIONS
In a separate statement on Wednesday, the BoI said it has given green-lane certification to wind power and breeder farm projects, which have a combined investment of P704 billion.

It said that it awarded green-lane status to Buhawind Energy Philippines’ three offshore wind power projects, which will have combined capacity of 4,000 gigawatts (GWs).

Buhawind, a joint venture between PetroGreen Energy Corp. and Denmark’s Copenhagen Energy, is investing P694 billion for wind power projects in Northern Luzon, Northern Mindoro, and Eastern Panay.

“From construction to operation, the three projects are expected to generate over 50,000 jobs.

According to the BoI, the permitting process will be expedited for Buhawind’s 1.98-GW Northen Luzon Offshore Wind Power Project in Ilocos Norte, 990-megawatt (MW) Northern Mindoro Offshore Wind Power Project, and 990-MW East Panay Offshore Wind Power Project.

The projects are expected to begin operations in 2030, 2031, and 2033, respectively.

Meanwhile, the BoI also awarded green-lane certification to Charoen Pokphand Foods Philippines Corp. for its P10.55-billion investment in 20 hog breeder farm projects.

“Charoen is the first company to receive a green-lane certification for agricultural projects since the initiative’s launch in 2023,” the BoI said.

According to the BoI, Charoen plans to build the breeder farms in Nueva Ecija, Isabela, Tarlac, Palawan, Ilocos Norte, Ilocos Sur, South Cotabato, Pangasinan, Southern Leyte, Surigao del Norte, and Negros Occidental.

“These projects are expected to create 1,250 jobs,” the investment promotion agency said.

Charoen, a subsidiary of Thailand’s Charoen Pokphand Foods Public Co. Ltd., will lease the farms to breed parent stock pigs, producing thousands of weaned piglets each year.

“These piglets will then be transferred to wean-finish or grow-out farms in various locations until they reach market weight,” the BoI said.

To ensure environmental sustainability, Charoen will integrate biogas waste treatment systems in each facility.

The company will also invest in climate control systems for hog buildings, silos and automatic feeding systems, central feed silo systems, farrowing pens, gestation pens, as well as diesel and biogas generators, the BoI said. — Justine Irish D. Tabile