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Manila Bulletin devider Business devider The Stock Market devider EEI, IHDC to explore JV for solar farms

EEI, IHDC to explore JV for solar farms

Published May 17, 2023 06:07 am
Yuchengco-led construction firm EEI Corporation (EEI) has signed a Memorandum of Understanding (MOU) with Industry Holdings and Development Corp. (IHDC) for the joint exploration and co-development of three potential solar farms. In a disclosure to the Philippine Stock Exchange, the firm said initiation of the potential projects with a total possible output of 150MW is targeted in the next two years. EEI President and CEO Henry Antonio

“In our Company’s undertakings, we uphold the global push for clean and renewable energy. This endeavor with IHDC is an opportunity for EEI to further promote environmental sustainability. Together, we could bolster our commitment to the environment and sustainable economic growth,” said EEI President and CEO Henry Antonio. IHDC positively welcomes the partnership with EEI. “IHDC and EEI are determined to achieve fruitful outcome from this collaboration that will benefit the economy, environment, and social living standards of the people altogether," said IHDC President Noel Santiago. EEI is a 92-year old company engaged in the business of general engineering construction and in other industries such as the development, construction, commissioning, operation, maintenance, rehabilitation, management of various power plants and renewable energy generating facilities through its subsidiary. IHDC is a firm engaged in investment, purchase, and acquisition of properties, manufacturing, and logistics. "Aside from this endeavor on solar farms, EEI and IHDC are also eyeing opportunities to participate in future projects under the Public-Private-Partnership (PPP) program,” Antonio said. He added that, “In EEI, we have relentless commitment to nation-building, thus, we are very much eager to explore future opportunities under the PPP program wherein we can help provide better facilities for the country and the people."
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