The Board of Investments (BOI) has expedited the development of two major renewable energy projects under the Green Lane Program, solidifying the Philippines’ push for clean energy.
Nexif Ratch Energy Investments Pte. Ltd. (NREI) received Green Lane Certificates of Endorsement on Nov. 26, 2024, for its 475 MW Lucena Wind Power Project in Quezon Province and 150 MWp Bacolod Solar Power Plant Project in Negros Occidental.
The Green Lane initiative, created under Executive Order No. 18, facilitates swift approval of permits and licenses for strategic investments.
BOI Investment Assistance Service Director Ernesto Delos Reyes Jr. pledged full support for the projects.
“Should you need additional support, please contact us. Our goal is to facilitate the timely and stress-free completion of your projects. We will be with you every step of the way,” he said.
Key Projects
The Lucena Wind Power Project, spearheaded by ACX3 Capital Holdings Inc., a subsidiary of NREI, aims to generate 475 MW of offshore wind energy in Lucena City and Sariaya, Quezon Province.
With an estimated cost of PHP 67 billion, the project aligns with the Department of Energy’s (DOE) goal of achieving 50% renewable energy in the generation mix by 2040.
The project, currently in its pre-development phase, will sell its output through the Green Energy Auction Program (GEAP), Power Sales Agreements, or the Wholesale Electricity Spot Market (WESM).
Meanwhile, the Bacolod Solar Power Plant Project, owned by Negros PH Solar Inc., another NREI subsidiary, will produce 150 MWp of solar energy across Bacolod City and Bago City, Negros Occidental.
With a project cost of PHP 6.9 billion, construction began in October 2024, and operations are set to start in Q4 2025.
The solar facility has secured Power Supply Agreements with AP Renewables and Adventenergy, Inc., with the remaining capacity to be sold through WESM.
The Bacolod project is expected to operate for 30 years, contributing to the country’s renewable energy supply for decades.
Industry Collaboration
NREI Philippines Project Director and ACX3 Capital Holdings Inc. President Nicolo Subido expressed gratitude for the BOI’s assistance.
“We’re truly grateful for BOI’s ongoing support and help since we registered under the BOI and Green Lane Program,” Subido said.
“NREI plans to embark on many more projects, and with BOI’s assistance and facilitation, we will achieve our long-term vision.”
Advancing Clean Energy
The BOI, through its One-Stop Action Center for Strategic Investments (OSAC-SI), plays a vital role in accelerating renewable energy projects that align with the government’s sustainability goals.
The projects are expected to drive economic growth, reduce carbon emissions, and enhance the country’s energy security.
These efforts showcase the power of public-private partnerships in fostering innovation and building a sustainable energy future.
By creating a favorable environment for renewable energy investments, the BOI reinforces the Philippines’ readiness to embrace clean energy solutions, paving the way for long-term energy sustainability.
