The Board of Investments (BOI) has granted "green lane" status to the 150-megawatt (MW) solar power project in Daanbantayan, Cebu, aimed at fast-tracking its development. The project involves an investment of approximately $130 million or P7.5 billion.

In a media advisory, Acciona Energia, a subsidiary of Spanish infrastructure company Acciona, confirmed the green lane status granted by BOI. This status, designated for investments deemed strategic for the country, expedites the permitting process across government agencies, streamlining the project's development and construction.

"Aligned with the Philippine Development Plan (PDP), this project supports the government's goals to increase the renewable energy capacity, ensure energy security, and promote sustainable and inclusive economic growth," Acciona Energia stated.

The Province of Cebu and Acciona Energia recently signed a joint venture agreement to implement the solar power project. The initial power output from the facility will be distributed through private power purchase agreements with Cebu II Electric Cooperative Inc. (Cebeco II). Any excess energy will be sold at the annual green energy auction hosted by the Department of Energy (DOE).

Acciona has other projects in the pipeline, including a 156-MW wind farm in the Municipality of Pantabangan and the 100-MW Kalayaan 2 wind farm in Laguna Province. The company has been operating in the Philippines since 2016 through its water and infrastructure divisions and has contributed to flagship projects such as the Putatan II and Laguna Lake water treatment plants and the Cebu Cordova Link Expressway (CCLEX).

Executive Order (EO) No. 18, approved in 2023, established green lanes within government agencies to expedite the process of granting permits and licenses through the One-Stop Action Center for Strategic Investments (OSACSI). OSACSI issues endorsement letters to the Department of Energy, national government agencies, and local government units, ensuring that projects designated as strategic meet processing times prescribed in EO 18.