Floating solar project in Laguna cited as ‘project of national significance’ under EO 18

by Ralph Hernandez / July 25, 2023

The floating solar project in Laguna Lake developed by SunAsia Energy, Inc. and its partner  Blueleaf Energy was cited as a “project of national significance” during the ceremonial launch of President Ferdinand Marcos Jr.’s Executive Order (EO) 18 last July 13, the two companies announced in a release.

EO 18, signed in February by Executive Secretary Lucas Bersamin for Pres. Marcos, established “green lanes for strategic investments” to further attract investors and “ensure the country’s regulatory environment is conducive to business operations.” It also enjoins national agencies and local government units to expedite permit applications filed by investors implementing projects deemed as having national significance.

SunAsia Energy and Blueleaf Energy were recognized during the EO’s ceremonial launch, held at Sofitel Philippines and attended by Marcos, due to the project’s “capacity, size of investments, and importance to energy security and de-carbonization targets,” the two companies said.

SunAsia, which describes itself as a pioneer developer of clean and renewable solar energy in the Philippines, applied the 10 floating solar projects with a combined capacity of 1.3 gigawatt to be considered as a strategic investment to avail the green lane services for permitting and licensing processes.

The company and its partner Blueleaf, a renewable energy platform that develops, finances, owns and operates renewables and storage assets, first introduced the floating solar project during the state visit of Marcos to Singapore last year. The investment commitment amounting to $1.2 billion is projected to flow in-country between 2025 to 2030, according to SunAsia and Blueleaf.

The two companies further explained that since the project was granted the certificate of national significance, project milestones progressed within two months. The project received the notice of award from the Laguna Lake Development Authority for lake lease rights and Solar Energy Operating Contracts from the Department of Energy this July.

In his recent State of the Nation Address, Marcos said Board of Investments-approved investment projects “have reached P1.2 trillion during our first year, while other strategic investments approved for processing through the newly established ‘green lanes’ amount to P230 billion.”

In a statement, SunAsia President Tetchi Capellan said EO 18 represents the government’s determination to attract and deploy huge investments that are strategic in nature. Meanwhile, Blueleaf CEO Raghuram Natarajan added that the green lane privilege granted to the Laguna floating solar projects emphasizes the strong commitment of the government and a “step in the right direction to mobilize significant capital into green energy projects.”

Read also

• It’s National Blood Donors Month! Here are some info you may need before you donate
• Unionbank unveils technological breakthroughs in speech recognition
• SM Cares continues to empower senior citizens, PWDs in emergency preparedness