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Manila Bulletin devider Business devider Trade & Industry devider BOI deems Samar tidal energy project eligible for Green Lane

BOI deems Samar tidal energy project eligible for Green Lane

Published Mar 18, 2024 08:57 am

The Board of Investments (BOI), the government's premier investment generating arm under the Department of Trade and Industry (DTI), has deemed the tidal energy project in Northern Samar qualified to apply for Green Lane certification.

Photo.jpg
Toward investor-friendly environment in Northern Samar: Trade Undersecretary and BOI Managing Head Ceferino Rodolfo (fifth from left) met with Governor Edwin Marino Ongchuan (middle) at the BOI Main Office in Makati City on March 12, 2024. Also in the photo are the following officials: (L-R) BOI Division Chief Lubin R. De Vera Jr., Mr. Jhon Allen B. Berbon-PEDIPO Head North Samar, BOI Director Ernesto C. Delos Reyes, Jr., Governor Ongchuan, Undersecretary Rodolfo, Mayor Isidro S. Bandal of Capul, Samar, and Mr. Jay Keenson Acebuche, OIC-PPDO Northern Samar

In a meeting with the Northern Samar local government unit (LGU) on March 12, the agency identified the Ocean Power Project in Capul Island as a strategic investment, along with other projects in Samar under CI NMF (PH) referring to an offshore wind project, Philtower Consortium, and Aboitiz Infrastructure.

The tidal project is the first of its kind in the Philippines, located at San Bernardino Strait in Northern Samar where ocean currents are said to be strong.

It seeks to offer tidal energy as a viable, cleaner, and alternative source to generate power from traditional fossil fuels.

The BOI stated that project partner Energies PH Inc has already secured a certificate of commerciality from the Department of Energy (DOE) for the tidal plant.

"The government  is pushing all clean energy projects not only Tidal projects to apply for greenlane," said BOI Director Ernesto Delos Reyes in a Viber message to reporters.

Executive Order (EO) No. 18, approved by President Ferdinand Marcos Jr in February 2024, aims to reduce red tape for projects identified as strategic investments.

"To qualify for green lane certification the project has to go through evaluation. This is to fast track the realization of the project," he explained. 

Aside from this, Northern Samar Governor Edwin Marino Ongchuan and BOI Managing Head Ceferino Rodolfo also discussed further investment opportunities in the province since the agency and the LGU signed a memorandum of agreement (MOA) in April 2023.

The MOA sealed the BOI and LGU's commitments to foster business-friendly areas in the country to facilitate more investments. As such it sought to strengthen the ease of doing business (EODB) at the local level with the assistance of the BOI.

Gov. Ongchuan told the agency that Northern Samar is the first LGU to pass an ordinance establishing a One-Stop Shop (OSS) catered to Green Lane-accredited projects.

With this, officials from both parties said they are expecting key investments in the province related to renewable energy and digital infrastructure.

"Undersecretary Rodolfo looks forward to continuing working closely with the LGU and all its partners to ensure the realization of these projects," said the statement.

 

 


 

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