THE Bureau of Investments (BOI) said that they had granted a green lane status for the offshore wind projects that is set to be constructed at the Guimaras Strait in the Western Visayas.

The BOI noted that the partnership of Triconti Windkraft Group and Sea Wind Holdings AG were given the green light for green lane processing.

It was revealed that two offshore wind power projects on Jan. 12, through its One-Stop Action Center for Strategic Investments (OSACSI).

The said projects were the Guimaras Strait Wind Power Project and Guimaras Strait II Wind Power Project.

They were among the first awarded Offshore Wind Energy Service Contracts by the Department of Energy. 

In a statement, the BOI said that the two wind projects have a combined initial investment cost of P221.6 billion.

The projects will operate offshore Negros Occidental and Iloilo and have a total target capacity of 1.2 gigawatts (GW).

It will be recalled that a year ago in February, President Ferdinand R. Marcos Jr. issued Executive Order No. 18 which mandated the creation of green lanes as part of efforts for ease of doing business and promoting strategic investments.