THE Board of Investments (BOI) endorsed two renewable energy (RE) projects of worth P73.9 billion for green lane treatment in the national and local government levels.
The BOI said it has awarded the green lane certificate to the P6.9-billion Bacolod Solar Power Plant Project of Nexif Ratch Energy Investments Pte. Ltd. (NREI).
The 150-megawatt peak solar energy in Bacolod City and Bago City in Negros Occidental already started construction in October this year, with completion eyed in the fourth quarter next year.
The NREI’s P67-billion Lucena Wind Power Project was also issued with green lane certificate.
The offshore wind project encompassing Lucena City and Sariaya in Quezon province is expected to produce 475 megawatts of clean energy.
The NREI’s subsidiary ACX3 Capital Holdings Inc. (ACX3) is overseeing the Lucena wind power project while its other unit, Negros PH Solar Inc., will operate the solar project.
BOI Investment Assistance Service Director Ernesto Delos Reyes Jr. assured the investors of the government’s support to accelerate the deployment of their investments.
“Our goal is to facilitate the timely and stress-free completion of your projects. We will be with you every step of the way,” Delos Reyes said. (PNA)
