Government approves P336 billion worth of strategic projectsThe bulk or 11 of the approved projects fall under the renewable energy (RE) sector, consisting mostly of solar projects. The bulk or 11 of the approved projects fall under the renewable energy (RE) sector, consisting mostly of solar projects. Among these are : SunAsia Energy Inc.’s 1,300-megawatt (MW) floating solar project in Laguna de Bay (P66 billion), NKS Solar One Inc.’s 250-MW floating solar project in Caliraya, Laguna (P14.9 billion), Laguna Wind Energy Corp.’s Kalayaan 2 wind power project (P10.85 billion), Ubay Solar Corp.’s solar power plant (P5.293 billion), Intramuros Solar Energy Corp.’s Gamu Solar power plant (P2.591 billion), and Magallanes Solar Energy Corp.’s Baratoc Viejo solar power project (P5.293 billion). Also part of the approved energy projects include five projects of ACEN Corp. located in Laguna Lake: SolarAce4 Energy Corp.’s 140-Megawatt peak (MWp) floating solar power plant (P6.25 billion), AC Laguna Solar Inc.’s 280-MWp floating Solar Power Plant (P10.946 billion), AC Subic Solar Inc.’s 280-MWp Floating Solar Power Plant (P12.494 billion), GigaWind1 Inc.’s 280-MWp Floating Solar Power Plant (P12 billion), and Ingrid2 Power Corp.’s 140-MWp floating solar power plant (P6.25 billion). Moreover, the EO also mandates the DTI-BOI to establish a one stop action center for strategic investments, which shall serve as the single point of entry for all projects qualified as strategic investments.

Source: Philippine Star November 06, 2023 12:47 UTC