ACCIONA Energía, a subsidiary of Spanish infrastructure company Acciona, said its 150-megawatt (MW) solar power project in Daanbantayan, Cebu has been granted “green lane” status by the Board of Investments (BoI).
“The ‘green lane’ privilege is granted to investments that are considered strategic for the country, expediting the permitting process among government agencies, and accelerating and streamlining the development and construction of the project,” Acciona Energía said in a statement on Thursday.
The solar power project involves an investment of around $130 million (P7.5 billion).
The initial power output from the solar facility will be distributed through private power purchase agreements with Cebu II Electric Cooperative, Inc.
Any excess energy will be sold at the annual green energy auction hosted by the Department of Energy, according to the company.
“Aligned with the Philippine Development Plan (PDP), this project supports the government’s goals to increase the renewable energy capacity, ensure energy security, and promote sustainable and inclusive economic growth,” Acciona Energía said.
Among the projects that are in its pipeline are the 156-MW wind farm in the municipality of Pantabangan, and the 100-MW Kalayaan 2 wind farm in Laguna province.
The company has been operating in the Philippines since 2016 through its water and infrastructure divisions and has been involved in flagship projects, such as the Putatan II and Laguna Lake water treatment plants and the Cebu Cordova Link Expressway.
Executive Order (EO) No. 18, approved in 2023, established green lanes within government agencies which will expedite the process of granting permits and licenses through the One-Stop Action Center for Strategic Investments (OSACSI).
OSACSI issues endorsement letters to the Department of Energy, National Government agencies, and local government units, which designate projects as strategic, which will in turn ensure processing times fall within the periods prescribed in EO 18. — Sheldeen Joy Talavera
