Wind Energy – Philippines
Copenhagen Infrastructure New Market Fund (CI NMF) Philippines Corp., a 100-percent Danish energy company, secured another endorsement for green lane treatment from the One-Stop Action Center for Strategic Investments (OSAC-SI).
The Board of Investments (BOI) on Friday said its OSAC-SI granted the green lane certification to CI NMF on Feb. 19 for its three offshore wind energy projects worth PHP329 billion.
These potential investments are for its Pangasinan-La Union, Camarines Norte-Camarines Sur and Northern Samar offshore wind farms.
The BOI said these offshore wind energy projects have a total potential capacity of 2 gigawatts.
CI NMF is the first fully foreign-owned renewable energy (RE) company in the country that was awarded RE service contracts by the Department of Energy.
“The Marcos government’s vision for renewables has been instrumental in attracting significant interest from a global leader in offshore wind like CIP, first with the removal of the foreign equity restrictions in November 2022, then the issuance of Executive Order 21 in April 2023 for a coordinated approach to offshore wind, and now the award of the Green Lane status to our projects, which we highly welcome,” Growth Markets Fund partner and co-head Niels Holst said.
