THE Board of Investments (BoI) said on Tuesday that it granted green lane certificates to Nexif Ratch Energy Investments Pte. Ltd. (NREI) for its renewable energy (RE) projects.
In a statement, the BoI said that NREI’s solar and wind power projects in Camarines Sur are eligible for the expedited permit process after the award of a certificate of endorsement for green lane services on June 11.
“(These) are significant capital investments that will create a consequential economic contribution and positive environmental impact for the Philippines,” according to Trade Undersecretary and BoI Managing Head Ceferino S. Rodolfo.
The government, through Executive Order (EO) No. 18, established “green lanes” in all government agencies in order to speed up the approval and registration process for priority or strategic investments.
One of the projects is the Calabanga Solar Power Project, which has a total capacity of 74.131 megawatts at its peak and a project cost of P3.7 billion.
It began construction in June last year and is being operated by NREI subsidiary Calabanga Renewable Energy, Inc.
The other project is the San Miguel Bay Wind Power Project, a 500-megawatt offshore wind energy venture estimated to cost P60 billion.
It is scheduled to start construction in early 2026 and hopes to start operations in 2028.
Its output is expected to be auctioned through the Department of Energy’s Green Energy Auction Program, the BoI said.
NREI is a joint venture between Singapore’s Nexif Energy and Thailand’s Ratch Group. — Justine Irish D. Tabile
