THE Board of Investments (BoI) said it has endorsed for expedited permit processing Vena Energy’s P75-billion wind and solar projects.
“With a combined investment of approximately P75 billion, these projects will be developed across Luzon and the Visayas, creating up to 8,000 direct job opportunities during their construction, commissioning, operation, and maintenance,” the BoI said in a statement on Thursday.
The green-lane certificates were awarded to Vena Energy’s special purpose vehicles: Opus Solar Energy Corp., Gemini Wind Energy Corp., and Ixus Solar Energy Corp.
The endorsement covers the 416.025-megawatt peak (MWp) Opus Solar Power Project, the 200-MWp Gemini Wind Power Project, the 301.392-MWp Aguilar Solar Power Project, and the 473.616-MWp Ixus Bugallon Solar Power Project.
“As a leading renewable energy provider in the Asia-Pacific, Vena Energy is committed to accelerating the transition to sustainable and affordable green energy while delivering long-term economic, social, and environmental benefits to host communities and stakeholders,” the BoI said.
Singapore-headquartered Vena Energy’s portfolio includes 43 gigawatts (GW) of onshore wind, solar, and offshore wind projects. It has over 1,000 employees across 87 corporate and site offices globally.
It also has a green infrastructure pipeline consisting of 24 GWh (GW hour) of battery energy storage systems, 620 MW of data centers, and 840 million tons per annum of green hydrogen and ammonia production.
The projects are among the 184 strategic investments endorsed by the One-Stop Action Center for Strategic Investments (OSACSI) for green-lane treatment worth P4.61 trillion as of Feb. 19.
Renewable energy projects accounted for 149 of these, valued at P4.21 trillion.
Investments in RE projects increased after the government allowed full foreign ownership in the industry, which had previously been capped at 40%.
In February, the OSACSI endorsed the 187.2-MW Tayabas South Wind Energy Project and the 144-MW Tayabas North Wind Energy Project of Cleantech Global Renewables, Inc. in Quezon Province.
Established through Executive Order No. 18 in Feb. 2023, green lanes aim to streamline the permitting and licensing process for strategic investments. — Justine Irish D. Tabile