The Board of Investment’s One-Stop Action Center for Strategic Investments awarded a green lane certificate of endorsement to ACEN Corp.’s P37.7-billion, 335-megawatt Isla Wind project.
This development underscores the government’s commitment to supporting clean energy initiatives and meeting the country’s rising demand for sustainable power sources, it said.
It said the project aims to provide clean, sustainable energy to consumers while creating a wealth of job and livelihood opportunities for Filipinos.
Slated for commercial operations by the fourth quarter of 2025, the onshore renewable energy project, straddling the provinces of Laguna and Quezon, is expected to boost the economy with 1,540 new jobs.
The project also aims to provide revenue, tourism opportunities and community projects for the host local government units.
“We’re grateful for the BOI for the green lane endorsement to help expedite processes and requirements for our new landmark wind project. This support sets the precedent for our continuous collaboration with the government to accelerate the country’s renewables share,” said ACEN senior vice president for development Rodrigo San Pedro Jr.
Trade Undersecretary Ceferino Rodolfo underscored the support of the BOI for the success of the wind project.
ACEN, the listed energy platform of the Ayala group, aspires to the largest renewable energy platform in Southeast Asia. With a target of reaching 20 gigawatts of renewable capacity by 2030, ACEN is actively pursuing projects across key markets like the Philippines, Australia, Vietnam, Indonesia and India.
Executive Order (EO) 18 supports strategic projects for swifter processing and approval through the green lane endorsement. The green lane processing assures the speedy issuance of permits and licenses, including resolutions of issues concerning strategic investments.