P1.4T worth of projects approved under green lane scheme in Q1
These two are 1,400-megawatt (MW), P297-billion Pakil Pumped Storage Hydroelectric Power Project of Ahunan Power Inc., and the 600-MW, P143.9-billion Wawa Pumped Storage 1 Hydroelectric Power Project of Olympia Violago Water Power Inc.Growth engine
Pascual highlighted the importance of expanding the renewable energy sector in the Philippines to meet the country’s target of achieving a 35 percent renewable energy share in the national power generation mix by 2030.
“We acknowledge that the private sector is the true engine of economic growth. You generate employment opportunities, empower families, and drive progress nationwide,” Pascual said in his speech during the event held in Parañaque City.
“Therefore, the green lane initiative goes beyond a whole-of-government approach. It fosters a whole-of-nation strategy toward economic prosperity. Through collaboration, we can identify areas for continuous improvement and refine government reforms to meet the evolving needs of our times,” he added.The goal of the government’s green lane program is to expedite, streamline and automate government approval and registration processes for projects which are deemed as strategic investments. INQ
