The Board of Investments (BOI) has awarded a green lane endorsement to ACEN Corporation’s SanMar solar project in Zambales, facilitating its approval through the green lane initiative.
According to a report by Philippine Star, the BOI has issued the green lane certificate of endorsement to Santa Cruz Solar Energy Inc., a subsidiary of ACEN. This endorsement represents the eighth green lane certification granted to ACEN.
The green lane initiative, introduced under Executive Order 18 last year, is designed to streamline and expedite the permit processing for strategic investments.
The SanMar solar project is being developed in three phases, with the first two phases currently underway. The third phase is projected to be completed by the end of next year. Once operational, the plant is expected to generate up to 587 megawatts peak (MWp) of solar energy.
BOI’s Investment Assistance Service Director Ernesto delos Reyes has assured ACEN of continued government support throughout the construction phase and up to the project's commercial launch next year.
Currently, ACEN oversees 4.8 gigawatts (GW) of renewable energy capacity and has set a goal to expand this to 20 GW by 2030.
As of August, the BOI has approved 115 projects under the green lane program.
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