Buhawind Energy Philippines (BEP) has obtained green lane certification from the Board of Investments (BOI) for its three offshore wind power projects, collectively valued at PHP 694 billion.
These projects, with a total installed capacity of 4,000 MW, are located in Northern Luzon, Northern Mindoro, and East Panay.
The 1.98 GW offshore wind farm in Ilocos Norte is scheduled to commence operations in 2030, followed by a 990 MW facility in Northern Mindoro in 2031, and another 990 MW project in East Panay in 2033.
The green lane certification is designed to expedite the permitting and licensing processes, facilitating the timely development of these renewable energy initiatives.