The Board of Investments (BOI) has granted approval to Nakashin Davao International Inc.’s Php 26-million solar rooftop system.
In a report by Philippine Star, the BOI announced that it approved the registration of Nakashin’s 519.2-kilowatt peak (kWp) solar photovoltaic rooftop system, which would be deployed in its food production facility in Davao.
The solar rooftop system is expected to yield annual energy savings of around 17.27 gigawatt-hours (GWh) and reduce carbon dioxide emissions by 137,000 tons.
This project is the first renewable energy initiative to receive energy efficiency incentives under Republic Act 11285, also known as the Energy Efficiency and Conservation (EE&C) Act.
The EE&C Act, passed in 2019, promotes the development of energy-efficient technologies to maximize the country’s energy resources.
Following the project’s registration approval, Nakashin will receive an income tax holiday amounting to 50 percent of its capital investment, as provided by the Corporate Recovery and Tax Incentives for Enterprises Act.
By utilizing renewable energy technologies such as solar power, businesses can cut electricity expenses and reinvest the savings to boost operations and contribute to economic growth.
Nakashin, a firm registered with the BOI, specializes in exporting agricultural and aquatic products, including mangoes and pineapples, to Japan and the European Union.
