The Marcos administration, in a significant move, has granted a Certificate of Green Lane Endorsement to FDC Renewables Corp. for its P4,8 billion 33.4-megawatt Pampang Hydroelectric Power Project in Nueva Vizcaya. This endorsement, a testament to the project's credibility, will augment the power supply in the Luzon grid and support the government's renewable energy (RE) goals.
"This endorsement couldn't have come at a more opportune time. With constant red and yellow alerts of the three grids, expediting the construction and completion of this project will not only improve the energy supply for Luzon but will also generate jobs for hundreds of Filipinos and spur development to IP communities in the area," FDC Utilities, Inc. (FDCUI) president and chief executive officer Juan Eugenio Roxas said.
The green lane endorsement was part of the P2.32 trillion worth of projects certified by the Board of Investment's (BOI) One-Stop Action Center for Strategic Investments since February 2023.
FDC Renewables is a unit of the FDCUI, the utility arm of Filinvest Development Corp.
"The Pampang Hydroelectric Power Project is one of the many initiatives Filinvest is pursuing to help the country attain energy security," Roxas added.
The government, in a bold and inspiring move, targets a 35% RE share in the total energy mix by 2030 and a 50 percent share by 2040, paving the way for a more sustainable and greener future.
With the BOI's green lane endorsement, concerned national government agencies and local government units should fast-track the processing of permits and licenses related to FDC Renewables' Pampang hydro project.
Comments