Philippine Economic Zone Authority (Photo from PEZA/Facebook)
The Philippine Economic Zone Authority (Peza) on Friday said it has signed an agreement with the Philippine National Oil Company (PNOC) to jointly explore the development of what they call a self-generating industrial park (SGIP).
Peza Director General Tereso Panga and PNOC President and Chief Executive Officer Oliver Butalid signed a memorandum of understanding last October 14 at the PNOC Networking Hall.
Article continues after this advertisement“A common resolve has emerged to develop embedded energy resources, promoting clean and green production as well as ensuring energy sufficiency through an agency-to-agency collaboration aimed at deploying energy facilities in the ecozones throughout the country,” Panga said in a statement.
FEATURED STORIES BUSINESS National ID gives more Filipinos ‘face value BUSINESS BIZ BUZZ: Unwinding Gogoro … quietly BUSINESS Polvoron maker seeks P500 million capital for expansion“This is all for our pursuit of attracting energy-intensive and green investments such as those in the semiconductor and EV manufacturing industry, which are seen as the most promising, strategic, and high-impact sectors across ASEAN,” he added.
For his part, Butalid said: “In previous agreements, we concentrated on solar rooftops as the initial deliverable of our collaboration. Today, we are excited to formalize a broader partnership with PEZA as a strategic ally.”
Article continues after this advertisement“Our aim is to address energy challenges in off-grid islands through Self-Generating Industrial Parks, offering not just solar rooftops for new buildings but also sustainable, long-term energy solutions,” the PNOC official said further.
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Article continues after this advertisementUnder the agreement, Peza said it would provide crucial information, conduct studies, and offer logistical support to evaluate the feasibility of developing the SGIP.
Peza will also collaborate with PNOC on a range of energy initiatives, including the installation of solar photovoltaic (PV) rooftops on government buildings, retail electricity supply projects, the promotion of clean and renewable energy technologies, small-scale natural gas initiatives for local communities, and the development of oil and gas depots and storage facilities.
Article continues after this advertisementThe investment promotions agency said that their partnership with the PNOC remains open to other energy-related ventures as opportunities arise.
It added that the primary objective of the MOU is to foster cooperation between the two parties in advancing energy projects while exploring broader opportunities for collaboration.
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Both organizations are committed to coordinating their efforts in energy resource development, conducting scoping activities, pre-feasibility and feasibility studies, and promoting energy programs within the economic zones under PEZAgoplay, added the investment promotions agency.
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