THE Board of Investments (BoI) said it has endorsed for expedited permits a P10.85-billion wind power project of Singapore’s The Blue Circle (TBC) in Paete and Kalayaan, Laguna.
“TBC, through its subsidiary, is currently developing a wind power project to spearhead its efforts in increasing its presence in the Philippines, with an overall portfolio of more than 2.5 gigawatt worth of renewable energy projects in development in the entire country,” the BoI said.
The project — Kalayaan 2 Wind Power Project — will be carried out by Laguna Wind Energy Corp. (LWEC) and is set to start commercial operations by 2026.
It is expected to generate 30 direct and 500 indirect jobs, The site is 70 hectares, hosting installed capacity of 100.8 megawatts of clean energy.
“In addition, the wind power project aims to harness renewable wind resources to power industries and promote sustainable and greener economic growth,” the BoI said.
The BoI estimates that projects receiving the “green lane” treatment totaled 16, with a combined project cost of P336.29 billion.
“There are 16 projects that have been designated and identified as strategic investments and (these are) projected to generate 31,000 jobs,” said Lubin R. de Vera, Jr., chief investments specialist with the BoI’s Investments Assistance Service.
In October, the BoI endorsed three solar projects of Spain’s Ignis Energia which cost a combined P14.83 billion. It also approved Real Steel Corp.’s P10.3-billion steel bar plant.
According to Mr. De Vera, of the 16 approved projects, 11 are renewable energy projects — 10 solar and one wind.
Two are telecommunication tower infrastructure projects, two are steel mills or plants and one a data center. — Justine Irish D. Tabile