BoI approves green-lane treatment for wind project

THE Board of Investments (BoI) said it endorsed a P30.92-billion onshore wind project for green lane treatment last month, bringing the total of green-lane eligible projects in the pipeline to P6.14 trillion.

In a statement, the BoI said that it endorsed the 300-megawatt San Jose Onshore Wind Power Project by San Jose Onshore Wind Power Corp.

At the end of January, the projects eligible for green-lane expedited permit processing numbered 233, and are expected to generate 399,667 jobs.

Of the P6.14 trillion, P1.77 trillion will consist of foreign equity.

Renewable energy (RE) accounts for 180 or P5.249 trillion of the project pipeline, with potential job creation estimated at 250,901.

Five public-private partnership, infrastructure, and water projects worth P416.08 billion were also certified for expedited processing, along with nine digital infrastructure projects worth P401.69 billion. These are expected to create 113,263 and 20,376 jobs, respectively.

Meanwhile, seven manufacturing projects worth P67.035 billion, 31 food security projects worth P18.7 billion, and one pharmaceutical project worth P45 million were certified for the green-lane program. Once operational, these projects will generate 7,773, 7,319, and 35 jobs, respectively.

Some 17 projects given green-lane treatment are already operational, valued at P258.19 billion, while seven are in the pre-operational stage and valued at P5.23 billion.

Some 162 projects valued at P5.51 trillion are in the pre-development stage, while 47 projects worth P366.26 billion are under construction. — Justine Irish D. Tabile