BOI grants green lane status to ACEN’s five solar projects

The Board of Investments awarded the certificates of endorsement to ACEN Corporation for its five floating solar power plant projects in a ceremony at the BOI Conference Room on September 6, 2023. In photo are Trade Undersecretary and BOI Managing Head Ceferino Rodolfo (fourth from left) and ACEN President and CEO Mr. Eric Francia (center) joined by (L-R) Ms. Hannah Jamaign Barroquillo, Senior Investment Specialist, BOI-Investments Assistance Service (IAS); Executive Director Bobby G. Fondevilla, BOI-Investment Assistance Center; BOI Governor Marjorie O. Ramos-Samaniego; Ms. Anabele Natividad, ACEN Senior Vice President for Development; Atty. Lucky Aranas, ACEN Manager for Legal and Regulatory; Atty. Rizel C. Barsabal, Investment Analyst, BOI-IAS; and Mr. Miguel Ignacio, ACEN Project Specialist for Development.

In keeping with the government’s goal to accelerate the realization of green investments in the Philippines, the Board of Investments (BOI) has given the go-ahead to ACEN Corporation’s requests for Green Lane processing of several renewable energy ventures located in Laguna Lake.

The approved projects include SolarAce4, AC Laguna, AC Subic, GigaWind1, and Ingrid Floating Solar Power Plants, which are consistent with the Philippine government’s mission to accelerate the growth of eco-friendly investments in the country.

In accordance with Executive Order No. 18 or “Constituting Green Lanes for Strategic Investments,” the five (5) RE projects are now identified and designated as strategic investments, which are expected to be completed by 2026 and 2027.

Obtaining green lane status expedites permit and license issuance, including resolving strategic investment issues.

Trade Undersecretary and BOI Managing Head Ceferino Rodolfo awarded the Green Lane Certificates of Endorsement to ACEN President and CEO Mr. Eric Francia in an awarding ceremony at the BOI Main Office in Makati City on September 6, 2023.

Present also in the ceremony were BOI Governor Marjorie Ramos-Samaniego and Executive Director Bobby Fondevilla of the Investment Assistance Center (IAC), and the following ACEN representatives: Ms. Anabelle Natividad, Authorized Representative; Atty. Lucky Aranas, Project Lawyer; and Mr. Miguel Ignacio, Project Manager.

SolarAce4 covers 100 hectares of the lake surface area in Santa Cruz, Laguna, and will produce 140-Megawatt peak (MWp) of clean energy. AC Laguna Floating Solar Power Plant – AC Laguna is located on 200 hectares of lake surface area in Victoria and Pila, Laguna, and will generate 280MWp of clean energy.

The AC SUBIC Floating Solar Power Plant, occupying 200 hectares of lake surface area in Victoria and Santa Cruz, Laguna, is expected to produce 280MWp of clean energy.

GigaWind1 Floating Solar Power Plant covers 200 hectares of lake surface area in Kalayaan and Paete, Laguna, and will generate 280MWp of sustainable energy.

Finally, Ingrid Floating Solar Power Plant is located on 100 hectares of lake surface area in Lumban, Laguna, and will produce 140MWp of clean energy.

At the forefront of Asia Pacific’s renewables revolution, ACEN is the first energy company in Southeast Asia to announce a Net Zero roadmap.

ACEN, established in 2011, is the renewable energy platform of the Ayala Group. Its portfolio continues to grow with new solar and wind farms under construction in the Philippines, Australia, Vietnam, Lao PDR, and India.

ACEN aims to be the largest listed renewables platform in Southeast Asia and is targeting to reach 20 GW of renewable capacity by 2030. Its key markets are the Philippines, Australia, Vietnam, Indonesia, India.