PH endorses $5.8b offshore wind projects for green lane status

Operations will start in six years.

The Philippines’ Board of Investments (BOI) has awarded the Green Lane Certificates of Endorsement to the two offshore wind projects of Vind Energy Corporation in Cavite and Guimaras worth $5.8b (PHP331b).

In a statement, the BOI said the projects are expected to start operations in 2030, and will have a maximum capacity of 994 megawatts (MW) and 728MW, each. Furthermore, the projects will utilise a fixed-bottom offshore wind technology.

The two wind energy projects are among the $52.6b (PHP3t) green lane certified projects by the Philippine government.

$1 = PHP57.01