European investors are expected to inject $500 million worth of foreign direct investments into the Philippine energy sector, primarily in renewable energy (RE) technologies.
The investment pledge, it was emphasized, will be poured mainly into five projects across the RE chain, including the capital outlay of Bronzeoak for the San Carlos solar farm which is targeted on stream this year.
This was highlighted in a press statement issued by Thomas Lloyd group about the investors’ Congress held recently in Germany.
The investment financing firm has also been setting its eyes on various investments in the country, including biofuel and biomass facility developments.
During the Congress, it was noted that prospective investors were apprised on “investment locations, technologies and project partners in the field of Asian renewable energy infrastructure.”
According to Thomas Lloyd Group chairman Michael Sieg, development of RE policies in the Asia Pacific region “will not only play a decisive role globally for present and future generations.”
He added that the propounded shift into cleaner energy options “will create the basis for further growth within the region and become an essential factor in shaping the ‘Asian Century’.
Bronzeoak Philippines president Jose Maria P. Zabaleta noted during the Congress that the event convened by ThomasLloyd Group “is a tremendous opportunity to present the world with key renewable energy projects and valuable political insight into this fast-growing industry.”
With the developed world relatively saturated already on RE technology installations, many foreign firms have been eyeing Asia as potential growth areas for clean energy investments. source
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