ACEN’s P37.7-B RE project gets ‘Green Lane’ approval

The Board of Investments on Friday announced that it approved the 'Green Lane' application of the Ayala Group's ACEN for its 335-megawatt ISLA Wind project.

BoI's Investment's One-Stop Action Center for Strategic Investments has awarded the highly coveted Green Lane Certificate of Endorsement to ACEN, a renewable energy project amounting to P37.7 billion, an ambitious project set to provide clean, sustainable energy to consumers while creating a wealth of job and livelihood opportunities for Filipinos.

Further, the onshore renewable energy project spans across the provinces of Laguna and Quezon.

ACEN aims to start supplying energy to the grid commercially by Q4 2025, boosting the economy with 1,540 jobs for Filipinos.

Revenue, tourism opportunities

The ISLA Wind project also aims to provide revenue, tourism opportunities, and community projects for the host LGUs.

"We are grateful to the BoI for the Green Lane endorsement to help expedite processes and requirements for our new landmark wind project. This support sets the precedent for our continuous collaboration with the government to accelerate the country's renewables share," said Rodrigo San Pedro Jr., ACEN senior vice president for development.

Trade Undersecretary and BoI managing head Ceferino Rodolfo underscored the support of the BoI for the success of the ISLA wind project, as it will heed the increasing demand for renewable energy sources.

Largest RE platform in SEA

ACEN, the listed energy platform of the Ayala group, aspires to be the largest renewable energy platform in Southeast Asia, to reach 20 GW of renewable capacity by 2030. Its key markets are the Philippines, Australia, Vietnam, Indonesia and India.

To recall, President Ferdinand Marcos Jr. signed Executive Order 18 this year, a Green Lane endorsement that will speed up and streamline the process and requirements for the issuance of permits and licenses, including resolutions of issues concerning strategic investments.