TIGON POWER CORP.’s P12.36-billion ground-mounted solar power plant is set to receive green lane treatment after it was certified by the One-Stop Action Center for Strategic Investments (OSACSI), the Board of Investments (BoI) said.
In a statement on Monday, the BoI said that a green lane certificate was awarded to Sapang Balen Solar Sustainable Energy Corp. (SBSSEC) last month.
SBSSEC is a special purpose vehicle registered with the Securities and Exchange Commission (SEC) created to develop the solar project. It is controlled by Filipino-owned Tigon Power Corp., and the project has a capacity of almost one gigawatt.
The certificate covers one of Tigon Power’s solar projects that will rise in Mabalacat and Magalang, Pampanga.
The site for the solar farm is 405.52 hectares.
“The project is also expected to generate up to 5,000 direct and indirect employment opportunities during its stages of construction, commissioning, operations, and maintenance,” the BoI said.
“OSACSI will continuously monitor the actions taken by agencies on applications for permits and licenses and shall submit a report accordingly,” it added.
Created through Executive Order No. 18 in February 2023, “green lanes” aim to expedite the permit and licensing process for strategic investments.
As of Jan. 17, the BoI OSACSI has endorsed 179 projects worth P4.55 trillion for green lane treatment.
Of the total, 144 are RE projects worth P4.15 trillion, comprising 80.45% of the certified projects.
Investment in RE projects increased after the government allowed full foreign ownership in the sector, which was previously capped at 40%.
The other projects were activities related to food security, digital infrastructure, and manufacturing. — Justine Irish D. Tabile
