Key Green Lane deals hit P4.54T

Strategic projects that received Board of Investments (BoI) approval stood at P4.54 trillion as of 26 December 2024 as a result of the sustained momentum of the Green Lane initiative under Executive Order 18.

Green Lane streamlines approvals for high-impact investments, reinforcing the country’s economic transformation.

Official tally from the BoI said a total of 176 projects were certified, spanning renewable energy, digital infrastructure, food security and manufacturing.

Renewable energy dominates the portfolio, with 141 projects worth P4.13 trillion, underscoring the government’s commitment to sustainability.

Digital infrastructure accounts for P352.13 billion across eight projects, food security adds P14.37 billion from 23 projects, and manufacturing contributes P36.91 billion from four projects.

“The success of the Green Lane underscores the Philippines’ rising profile as a hub for strategic and sustainable investments. By fast-tracking approvals through EO 18, we’ve aligned these investments with our national priorities, including renewable energy development, job creation, and economic resilience,” said BoI Investments Assistance Center executive director Bobby Fondevilla.

Further, the BoI said in December alone, six projects worth P39.8 billion were certified, led by the P12.72-billion Laguna Wind Project in Region 4-A.

Of the certified projects, 44 have been registered with BoI, with a combined cost of P1.93 trillion, while 132 remain active investment leads worth P2.61 trillion.

Further, the BoI also recently granted Green Lane access to Buhawind Energy Philippines, a joint venture between PetroGreen Energy Corp. and Denmark’s Copenhagen Energy, for its three offshore wind power projects.

With an aggregate target installed capacity of 4,000 gigawatts and a P694- billion investment, these projects will soon operate in Northern Luzon, Northern Mindoro and East Panay.

From construction to operation, the said projects are expected to generate over 50,000 jobs for Filipinos.

The liberalization of foreign investment policies and the relaxation of ownership restrictions on renewable energy projects have significantly impacted foreign investments in Green Lane-certified initiatives.

‘By fast-tracking approvals through EO 18, we’ve aligned these investments with our national priorities, including renewable energy development, job creation, and economic resilience.’

Of the 176 certified projects, 46 are majority foreign-owned, with 30 being wholly owned by foreign companies from Singapore, Thailand, Malaysia and the British Virgin Islands.

In terms of equity contributions, Denmark leads with the largest foreign investment at P416.41 billion, followed by the Netherlands with P336.93 billion, Switzerland with P310.74 billion, and Singapore with P230.38 billion.

The Green Lane has streamlined inter-agency coordination, secured local government endorsements, and simplified processes with the release of the Implementing Rules and Regulations (IRR) for EO 18.