Acting Director Francis M. Peñaflor of the Board of Investments (BOI) delivered a keynote speech at the Energy & Renewable Energy Committee Networking Breakfast organized by the French Chamber of Commerce and Industry in the Philippines, emphasizing the role of renewable energy in driving green industrialization and strengthening the country’s investment landscape.
Renewable Energy as a Strategic Investment Area
In his presentation, Peñaflor underscored that the BOI views renewable energy as a strategic investment area. “At the BOI, we view renewable energy as a strategic investment area that supports green industrialization, unlocks global competitiveness, and facilitates clean energy transition,” he said. He noted the urgency of accelerating local RE development to meet growing energy demand.
Policy Reforms and Incentives
Peñaflor highlighted the BOI’s efforts to attract and support RE investments through a competitive incentives framework under the Renewable Energy Act and the CREATE MORE Act. Key policy reforms include allowing up to 100% foreign ownership in RE projects and operationalizing the BOI’s Green Lane services established through Executive Order 18, which streamline approvals and strengthen the investment environment.
Panel Discussion on Emerging Opportunities
Following presentations from BOI and BDO on RE Project Financing, a panel discussion delved into emerging investment opportunities in battery energy storage systems, grid infrastructure development, renewable energy components manufacturing and services, and sustainable aviation fuels as an emerging renewable fuel. The exchange underscored the importance of de-risking investments through predictable policies, comprehensive incentives, and favorable project financing.
BOI’s Track Record in RE Investments
Aligned with the country’s clean energy transition and long-term energy security goals, the BOI continues to promote and facilitate investments in renewable energy through policy support, investment incentives, and end-to-end assistance to project proponents. From 2021 to 2025, the BOI approved 338 RE projects, generating Php 3.68 trillion in investments and 36.9 GW of combined capacities, alongside 182 Green Lane certified projects from February 2023 to April 2026.
