BOI Grants Green Lane Certificates to Billion-Peso Solar Power Projects in PH

MAKATI CITY – The Board of Investments (BOI) has awarded Green Lane Certificates of Endorsement to Upgrade Energy Philippines, Inc. (UGEP) for its two solar power projects, reinforcing the government’s commitment to expediting strategic investments in the renewable energy sector.

As the global shift towards clean energy accelerates, the Philippines is bolstering its efforts to facilitate renewable energy projects through Executive Order (EO) No. 18. In line with this vision, the BOI awarded green lane certificates to the the 56.771 MW Cabangan Solar Project in Zambales and the 47.001 MW Pontevedra Solar Power Project in Capiz, with estimated project costs of Php2.11 billion and Php1.51 billion, respectively.

Making It Happen with UGEP. Trade Undersecretary and BOI Managing Head Ceferino Rodolfo (fourth from left) hands over the Green Lane Certificate to UGEP President and CEO, Ruth Yu-Owen (fifth from left) at the awarding ceremony at the BOI Main Office on February 3, 2025.

Other officials and staff in the photo are (L-R): BOI’s One Stop Action Center for Strategic Investments (OSAC-SI), Jonnel Podawan; BOI OSAC-SI Division Chief, Lubin De Vera Jr.; BOI OSAC-SI Director, Ernesto C. Delos Reyes Jr.; UGEP Chief Development Officer, Hanzel Cubangbang; and UGEP Project Development Manager, Thomas Owen.

Trade Undersecretary and BOI Managing Head Ceferino Rodolfo expressed optimism about the further expansion into onshore wind energy and the integration of solar power with battery storage as technology advances and costs decrease.

Undersecretary Rodolfo also emphasized the need for responsible project implementation, particularly in minimizing environmental impacts related to tree cutting and land use.

Trade Undersecretary and BOI Managing Head Ceferino Rodolfo (top photo) and UGEP President and CEO Ruth Yu-Owen (bottom photo) during a brief discussion before the awarding of the green lane certificate.

The UGEP solar power projects are expected to generate up to 331 temporary and permanent direct job employment opportunities during the Projects’ construction and commissioning, followed by long-term roles in operations and maintenance over the 25-year project life.

The projects will also support infrastructure development and community growth with the additional tax revenue and investment in local businesses.

“With the Board of Investment’s green lane facilitation, our projects will benefit from streamlined processing of permits and licenses, ensuring swift and efficient collaboration with national and local agencies. This endorsement not only validates our vision but also energizes our resolve to deliver a transformative renewable energy initiative that will power thousands of homes, reduce carbon emissions, and set a bold precedent for future green investments,” said UGEP President and CEO Ruth Yu-Owen.

UGEP is a leading project development, engineering, procurement, and construction (EPC) company specializing in renewable energy solutions. These projects are part of the 184 strategic investments endorsed by OSAC-SI for green lane services with a total project cost of Php4.614 trillion.

Specifically, 149 of these projects, worth Php4.211 trillion, are under the Renewable Energy Sector.

BOI-OSACSI will speed up the processing of permits and licenses of the endorsed projects, ensuring the fast realization of renewable energy investments in the country. -END-

 

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