THE Board of Investments (BoI) launched a roadshow to promote energy efficiency and conservation (EE&C) projects as well as renewable energy (RE).
In a statement on Monday, the BoI said that it launched the roadshow series, known as “Make REshift Happen” in Lipa City on Aug. 2.
BoI Resource-based Industries Service Director Raquel Echague said that the government is inviting firms to shift to RE in order to qualify for incentives under Republic Act 11285.
“The government would like to encourage existing plants to reduce their conventional energy consumption by undertaking EE&C initiatives, and adopting the use of RE to power their operations,” Ms. Echague said.
The first of the series pitched manufacturing locators at the LIMA Technology Center with presentations on the new guidelines for registering EE&C projects with the BoI.
“The BoI partnered with Aboitiz InfraCapital to host the first roadshow, inviting its locators to participate,” the BoI said.
“The session not only included a discussion of the guidelines on EE&C but also one-on-one consultations with companies interested in registering their projects with the BoI,” it added.
According to the BoI, it is currently evaluating the application for incentives from an agribusiness company ahead of further roadshows in economic zones and industrial parks across the country.
“The roadshows are specifically designed for export-oriented manufacturing and other enterprises with high power demand,” it said.
“These businesses are registered with the BoI, Subic Bay Metropolitan Authority, Clark Development Corp., and the Philippine Economic Zone Authority,” it added.
The government target for RE is 35% of the power generation mix by 2030 and 50% by 2040. — Justine Irish D. Tabile
