ACCIONA Energía, a subsidiary of Spanish infrastructure company Acciona, said its 150-megawatt (MW) solar power project in Daanbantayan, Cebu has been granted “green lane” status by the Board of Investments (BoI).
“The ‘green lane’ privilege is granted to investments that are considered strategic for the country, expediting the permitting process among government agencies, and accelerating and streamlining the development and construction of the project,” Acciona Energía said in a statement on Thursday.
The solar power project involves an investment of around $130 million (P7.5 billion).
The initial power output from the solar facility will be distributed through private power purchase agreements with Cebu II Electric Cooperative, Inc.
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