Published
By Myrna M. Velasco
SINGAPORE – Investments
in the renewable energy (RE) sector – primarily solar and waste-to-energy
facilities, are the sphere where many Singaporean investors have been taking a
keen eye on when it comes to injecting capital in the Philippines.
The Singapore Malay
Chamber of Commerce and Industry (SMCCI) has formally communicated this to the
Department of Energy (DOE) in a meeting with their key officers and members.
Furqan Shamsudin,
project manager of Zaffra Solar, indicated that their company as well many
other SMCCI member-firms are interested in solar investments in the
Philippines.
“We are looking at
rooftop, ground-mounted or any type or solar technology applications, including
those with battery storage,” he said.
Shamsudin added that
they set interest not just on prospective residential-anchored ventures, but
more keenly on commercial and industrial rooftop installations.
Currently, he
emphasized that they are working on a solar installation at the engineering
company of Singapore Airlines at the Manila airport.
“These are the kind of
projects that have been very interesting to us and the rest of our
Singapore-Malay business members,” he stressed.
Several other firms are
also raring for prospective ventures in the waste-to-energy facilities, thus,
this is one investment area that they will be exploring further in the
Philippines in a targeted business-matching drive next year.
In a meeting with the
chamber officials, DOE Assistant Secretary Caron Aicitel E. Lascano has
apprised them of the application processes on service contracts for renewable
energy projects as well as the set of incentives that relevant Philippine
policies have been offering for the sector.
Renewable energy
investments in the country are seen flourishing further with the targeted
installations of more than 15,300 megawatts of RE capacity until 2030 in line
with the government-designed Renewable Portfolio Standards.
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