The Board of Investments (BOI) is encouraging local manufacturers to decrease their reliance on conventional energy sources by embracing energy efficiency and conservation measures.
During the first “Make REshift Happen" roadshow, Raquel Echague, BOI Resource-Based Industries Service director, emphasized the importance of manufacturing companies transitioning to renewable energy (RE) for their operational needs.
Echague noted that manufacturers stand to benefit from incentives when they opt to power their facilities using renewable energy sources.
During the roadshow at LIMA Technology Center in Lipa City, Batangas, BOI representatives briefed the locators on the updated registration guidelines for Energy Efficiency and Conservation (EE&C) projects with BOI under Republic Act (R.A.) No. 11285.
The REShift campaign exemplifies BOI's dedication as the country’s primary investment promotion agency (IPA) to promoting collaboration among IPAs, their respective ecozones/industrial parks, and advancing the adoption of renewable energy.
The roadshows are specifically designed for enterprises that are engaged in export-oriented manufacturing and other industries with substantial power requirements.
These companies are officially recognized by the Board of Investments (BOI), Subic Bay Metropolitan Authority (SBMA), Clark Development Corporation (CDC), and the Philippine Economic Zone Authority (PEZA).
Darwin Teh, Manager of Locator Engagement at LIMA Land, Inc., highlighted the significance of the roadshow for their locators, emphasizing its role in promoting sustainable investment opportunities.
“Today as we delve into opportunities and guidelines under RA 11285, let us embrace the spirit of innovation and collaboration. Together, we can drive the shift towards renewable energy and sustainable practices ensuring a brighter and more sustainable future for all,” Teh said.
The BOI partnered with Aboitiz InfraCapital to host the first "Make REshift Happen" Roadshow, inviting its locators to participate. The session not only included a discussion of the guidelines on Energy Efficiency and Conservation (EE&C), but also one-on-one consultations with companies interested in registering their projects with BOI.
BOI met with companies such as Grandsun Advanced Electronics (Phils.) Co. Inc., Philippine Advanced Processing Technology, Inc. (PAPTI), and Proterial Philippines, Inc., among others.
The "Make REshift Happen" roadshow series, is a project of BOI’s Domestic Investments Promotion Service (DIPS), in collaboration with BOI’s Resource-Based Industry Service (RBIS) and Manufacturing Industry Service (MIS).
It is aimed at introducing the guidelines for registering EE&C projects, and to raise awareness on and support for the Government’s goal of having renewable energy account for 35% of the country's power generation mix by 2030 and 50 percent by 2040.