Renewable Energy (RE) projects are seen to account for a third of the Board of Investments (BOI) P1.5-trillion investments approval target for 2023, according to Trade Secretary Alfredo E. Pascual. Know more:
RENEWABLE Energy projects are seen to account for a third of the Board of Investments P1.5-trillion investments approval target for 2023, according to Trade Secretary Alfredo E. Pascual.They are also engaging in talks with a potential investor for renewable energy but related to manufacturing intended for export, Pascual added.
At the weekend, Jaime FlorCruz, the new Philippine Ambassador to Beijing, revealed that a big Chinese wind power company is interested in investing in the Philippines. In 2022, Dajin delivered wind energy products and services to the Philippines worth 150 million RMB . DTI’s Pascual said the country also welcomes investors in the related sectors of battery energy storage systems and off-grid power supply systems. With this, Pascual pitched to the Chinese officials the incentives available for RE projects.
The Trade chief also noted that by 2030, the Philippines aims to increase the share of renewable energy in the country’s power generation mix to 35 percent; and to 50 percent by 2040.
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