The Philippine Economic Zone Authority (PEZA) signed a partnership agreement with Japan International Cooperation Agency (JICA) and Japanese-led Advantec Philippines, Inc. for future renewable energy projects.
“The tie-up is part of JICA’s Public-Private Partnership (PPP) promotion program that utilizes Japanese innovations in implementing development cooperation projects,” JICA said in a press release.
Under the partnership, Advantec will introduce its solar power technology in the Pampanga Economic Zone with an annual energy yield of 3.6 million kilowatts.
The project is also seen to potentially reduce approximately 1,200 tons of carbon dioxide annually.
“JICA has been actively undertaking its PPP promotion program that encourages more business deployment of Japanese companies in the Philippines,” JICA Chief Representative Takema Sakamoto said in a statement.
“These Japanese companies introduce unique and advanced technologies and business models that are geared towards sustainable development. JICA keeps on supporting Filipino friends in line with the co-benefit approach,” Mr. Sakamoto said.
For the initial stage of the cooperation, Advantec will conduct a feasibility study to determine the viability of the solar power technology operation in the economic zone and how it fits into Philippine laws and regulations.
The study also aims to identify what PEZA rooftops or land areas will be used for the pilot project sites.
“Such partnership is powerful to also give potential renewable energy investors ideas on the best pathways to participate in the Philippine renewable energy landscape,” JICA said.
PEZA Director General Tereso O. Panga said that the memorandum of understanding signed on Thursday is in support of President Ferdinand R. Marcos, Jr.’s directive to promote clean and green production, energy efficiency, and the use of renewable energy sources.
In his second State of the Nation Address, Mr. Marcos announced that the Philippines is aiming to achieve a 35% renewable energy share in the power mix by 2030 and 50% by 2040.
Mr. Panga said that Advantec’s primary objective “is to establish and execute numerous solar power facilities initially within the Pampanga Economic Zone, with the aim of supplying generated electricity to PEZA and its locators operating within the zones.”
He added that PEZA will assist Advantec, particularly in securing the documentary requirements with the government, identifying suitable land areas, and facilitating the registration of solar photovoltaics.
“All these efforts shall be in accordance with the provision of the Corporate Recovery and Tax Incentives for Enterprises Law and the Renewable Energy Act of 2008,” Mr. Panga said. — Justine Irish D. Tabile