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The Board of Investments (BOI) is urging local manufacturers to reduce their dependence on conventional energy by adopting energy efficiency and conservation practices through the “Make REshift Happen”
The Board of Investments (BOI) is urging local manufacturers to reduce their dependence on conventional energy by adopting energy efficiency and conservation practices through the “Make REshift Happen” campaign.
In a report by Manila Bulletin, BOI’s Resource-Based Industries Service director Raquel Echague stressed the advantages for manufacturers transitioning to renewable energy (RE) for their operations.
Echague pointed out that companies could benefit from various incentives when they choose to power their facilities with renewable energy sources. The campaign focused on updating manufacturers on the registration guidelines for Energy Efficiency and Conservation (EE&C) projects under Republic Act (R.A.) No. 11285.
Additionally, the campaign also targets export-oriented manufacturing and other industries with high power needs, recognized by BOI, including Subic Bay Metropolitan Authority (SBMA), Clark Development Corporation (CDC), and the Philippine Economic Zone Authority (PEZA).
LIMA Land, Inc. Manager of Locator Engagement, Darwin Teh, said that the goal of the roadshow is to promote sustainable investment opportunities.
BOI has partnered with Aboitiz InfraCapital for this first roadshow, offering locators the chance to engage in discussions and one-on-one consultations about EE&C project registration.
Companies such as Grandsun Advanced Electronics (Phils.) Co. Inc., Philippine Advanced Processing Technology, Inc. (PAPTI), and Proterial Philippines, Inc. were among those that participated.
The “Make REshift Happen” roadshow series, a joint effort of BOI’s Domestic Investments Promotion Service (DIPS), Resource-Based Industry Service (RBIS), and Manufacturing Industry Service (MIS), aims to introduce EE&C project guidelines and support the government’s goal of achieving 35% renewable energy in the power generation mix by 2030 and 50% by 2040.
