Global offshore wind developer Corio Generation has been granted green lane certification for its 3 GW offshore wind projects in the Philippines, facilitating a faster permitting process.
The Philippine Board of Investments issued the certification, which will expedite the processing of permits and licenses for Corio's projects in Cavite and Guimaras. Alma Roxas-Aguila, Corio's development director for the Philippines, noted, “These green lane certifications are crucial for our project development and efforts in helping the country reach its decarbonisation targets.”
Corio, a portfolio company of the Macquarie Group, aims to develop up to five offshore wind projects totaling 3 GW under wind energy service contracts that provide site exclusivity. The projects will be located off the coasts of Cavite, Batangas-Mindoro, Iloilo, and Guimaras, featuring 2 GW of fixed-bottom turbines and 1 GW of floating platforms.
In July, Corio announced plans to participate in the upcoming green energy auction in the Philippines, supporting the country's targets of 35% renewable energy in its generation mix by 2030 and 50% by 2040.
