Promoting the development of the offshore wind industry value chain in the Philippines, the Board of Investments (BOI), through the One-Stop Action Center for Strategic Investments (OSACSI), approved its first offshore wind power project for Green Lane services.  

Trade Undersecretary and BOI Managing Head Ceferino S. Rodolfo awarded the Green Lane Certificate of Endorsement to Ivisan Windkraft Corporation for its 450 MW Frontera Bay Wind Power Project in offshore Cavite.  

With an initial cost of Php81.675 billion, the project is targeted to operate within the term of President Ferdinand R. Marcos, Jr. The green lane endorsement will expedite and streamline government transactions for this strategic investment. 

Making It Happen with Ivisan Windkraft: Trade Undersecretary and BOI Managing Head Ceferino S. Rodolfo (third from left) awarded the Green Lane Certification to Ms. Lilibeth M. Rosenberger, Triconti Windkraft Group President and CEO, (fourth from left) at the BOI Main Office in Makati City on Dec. 6, 2023.  

MAKATI CITY — Significantly, the project will help the Philippines achieve its aim of producing 15.3 GW of clean energy by 2030 as part of the Philippine Development Plan’s goal of having a secure, reliable, and clean energy mix. 

These offshore wind turbines can also become a new tourist attraction especially when the proposed bridge linking Cavite and Bataan is finished. The project is fully aligned with the administration’s goal of operating offshore wind turbines by 2028. 

Aside from the impact of having wind energy tourism, training and development will also be provided to neighboring communities which could lead to growth in local business opportunities. The project is beneficial for Filipinos, as it will create 2,700 jobs in its pre-development, development, and operational phases. 

The Philippines has a potential offshore wind resource of 178 GW. Large areas around the country’s coast have extractable wind sources. BOI and its national government agency partners are working on developing an ecosystem for the offshore wind power industry. 

“We endeavor to develop the offshore wind industry value chain in the Philippines and invite global offshore wind industry players to choose the Philippines as their hub in Southeast Asia,” said Undersecretary Rodolfo.  

“What we want to show is that the offshore wind industry has Filipinos around the world working as engineers, mariners, etc. Developing the ecosystem in the country aligns with our goals of bringing the OFWs home and investing in the capabilities of the Filipinos,” Mr. Theo Sunico, Vice President of Ivisan Windkraft Corporation, shared with the BOI officials.  

The green lanes for strategic investments were established through Executive Order No. 18, which was approved by the Office of the President on February 24. Green lanes aim to expedite, simplify, and automate the permit and license application processes for strategic investments.  

Operating as the sole entry point for these investments, OSACSI will expedite the processing of permits and licenses of the endorsed project, ensuring the fast realization of renewable energy investments in the country. ♦

Date of release: 22 December 2023

Related posts:

BOI gives green lane endorsement to Metro Pacific’s vegetable, dairy farm projects  PH, Hungary strengthen economic ties as PH business delegation forges business deals in Budapest  Secretary Pascual spearheads discussion for digital and sustainable investments in various sectors Pascual welcomes big-ticket Japanese investments supporting PBBM’s PH economic agenda PH delegation surpassed performance targets in the 6th CIIE Philippines, Hungary strengthen economic ties, marks an important year in the 5th Joint Commission on Economic Cooperation