The Board of Investments (BOI) granted ACEN Corp. a green lane certificate of endorsement for its 587-megawatt solar power plant in Zambales.
In a statement, BOI said the construction of the San Marcelino solar power plant project will "employ up to 2,000 skilled workers, with Phases 1 and 2 alone generating a workforce of 3,600."
Construction of Phases 1 and 2 is underway, with commercial operations expected to start in the third quarter of 2024. Phase 3 is set to finish by the fourth quarter of 2025.
The project is owned by ACEN’s subsidiary Santa Cruz Solar Energy, Inc.,
“We are deeply grateful for the BOI’s green lane endorsement, which will significantly expedite the processes and requirements for SanMar Solar and enable us to meet our project timeline," said Anabele Natividad, ACEN Senior Vice President for Development.
"This support reinforces our commitment to ongoing collaboration with the government to accelerate the nation's transition to renewable energy,” she added.
This endorsement is ACEN’s 8th Green Lane project, showing the government’s support to streamlining large-scale investments under Executive Order No. 18—which aims to attract foreign investments for strategic projects.
Investment Assistance Service (IAS) Director Ernesto Delos Reyes assured full government support for the project until it starts operating in 2025.
ACEN, the Ayala Group’s energy platform, is driving the renewable energy transition with 4.8 GW of capacity across multiple countries.
Moreover, ACEN is quickly growing its renewable energy in the Philippines in the Philippines to support decarbonization goals and meet rising clean energy demand, with 1,850 MW of solar, wind, and geothermal capacity.
“ACEN is committed to delivering clean, reliable, and affordable energy across the Asia-Pacific region. The company has set an ambitious target to increase its renewable energy capacity to 20 GW by 2030. As a pioneer in sustainable practices, ACEN is spearheading initiatives for the early retirement of coal plants and has pledged to achieve Net Zero greenhouse gas emissions by 2050” BOI said in a statement on Tuesday, Sept. 11.
By August 2024, the Green Lane initiative had approved 115 projects totaling Php3.204 trillion in investments. (Derco Rosal)