Investments granted ‘green lane’ treatment hit P6.4T at end-March

ABOUT P6.43 trillion worth of projects have been approved for expedited processing via the “green lane” certification system as of March, the Board of Investments (BoI) said on Tuesday.

The BoI reported that 244 projects worth P6.43 trillion have been granted a green lane certification as authorized by Executive Order No. 18.

Many of these projects are focused on renewable energy (RE) and related infrastructure, Trade Secretary and BoI Chairman Ma. Cristina A. Roque said in a statement.

About 171 projects involving investment of P5.79 trillion are in the pre-development stage; 46 projects worth P359.64 billion are under construction; and eight projects valued at P6.99 billion are in the pre-operation stage.

The BoI noted that 19 projects worth P266.85 billion are operational, covering industries like RE, digital infrastructure, and energy.

“Accelerating their implementation is important to help address energy supply requirements, stabilize costs, and support continued economic activity,” Ms. Roque said.

“This is why streamlining permitting and improving coordination across agencies remains a priority,” she added.

Executive Order No. 18, which created the Green Lane program, streamlined the processing of permits and clearances for investments deemed strategic. 

Beneficiaries of the initiative include Nanchao Renewable Energy Corp.’s 100-megawatt Pasuquin Solar Power Project in Ilocos Norte, which received a decision from the Energy Regulatory Commission in four months, compared to the usual nine-month processing time.

“The DTI and BoI expect the Green Lane Initiative to support the timely implementation of investments in key sectors, contributing to job creation, improved infrastructure, more reliable energy supply, and enhanced access to essential services,” it said. — Beatriz Marie D. Cruz