BOI awards green lane certs to UGEP's P3.62B solar projects

The Board of Investments (BOI) awarded green lane certificates to Upgrade Energy Philippines Inc.'s (UGEP) P3.62 billion solar power projects in Zambales and Capiz.

UGEP's Cabangan project in Zambales will cost P2.1 billion with a capacity of 56.77 MW, while the Pontevedra project in Capiz is expected to cost P1.5 billion with a capacity of 47 MW.

These projects are anticipated to generate up to 331 jobs and contribute to local infrastructure development and economic growth through additional tax revenue and investment in nearby businesses.

UGEP President Ruth Yu-Owen emphasized that the green lane facilitation will streamline permit processing, enabling swift collaboration with regulatory agencies.

The endorsement underscores UGEP's commitment to delivering a transformative renewable energy initiative that powers thousands of homes while reducing carbon emissions.

As part of its growth strategy, UGEP aims to expand its portfolio of utility-scale RE projects to 500 MW by 2030 and commercial and industrial solar rooftop systems to over 100 MW by 2028.

The government's commitment to expediting investments in the renewable energy sector is reflected in the BOI's endorsement of 149 projects worth PHP4.211 trillion through its One-Stop-Action-Center for Strategic Investments (OSAC-SI), with an additional 35 projects since the original announcement.