Buhawind Energy Philippines (BEP) has been awarded the green lane certification by the Board of Investments (BOI) for its three offshore wind power projects with a combined target capacity of 4,000 gigawatts (GW).
In a statement on Wednesday, Nov. 20, the BOI said the certification was granted due to the projects' alignment with the country's developmental agenda and their potential to contribute significantly to the nation's renewable energy goals.
The three projects, with a total investment of P694 billion, are located in Northern Luzon, Northern Mindoro, and East Panay. They are expected to generate over 50,000 jobs for Filipinos from construction to operation.
“We commend Buhawind Energy for its commitment to increasing the energy supply in the country and contributing to socio-economic development in the countryside through green jobs, fiscal contributions to local government units, and corporate social responsibility projects for host communities,” BOI Governor Marjorie Ramos-Samaniego said.
“We look forward to seeing the positive impact of your projects in achieving a shared vision for a greener and more progressive Philippines,” he added.
The green lane certification mandates expedited processing of permits and licenses needed by investors from national government agencies and their representative offices at the regional and local levels. "
The BOI OSAC-SI Team is committed to assisting you. The Green Lane will certainly help in expediting the process for obtaining your projects' permits and licenses," Ramos-Samaniego said.
Buhawind Energy is a joint venture between Yuchengco-led PetroGreen Energy Corporation (PGEC) and Denmark's Copenhagen Energy (CE).
"We thank the BOI for awarding us with Green Lane Certificates for our three offshore wind power projects and recognizing our commitment and efforts to drive progress in the Philippines through offshore wind energy," said Buhawind Energy Chair Jasmin Bejdic.
The Northern Luzon Offshore Wind Power Project in Ilocos Norte is scheduled to begin operations in 2030, followed by the Northern Mindoro Offshore Wind Power Project in 2031, and the East Panay Offshore Wind Power Project in 2033.