Singaporean firms hungry for RE investments in PH


Solar and waste-to-energy are two key areas where Singaporean firms are looking to invest, bringing the prospects for the Philippines capacity for renewable energy (RE) to greater heights.

In a meeting with the Department of Energy (DOE), the Singapore Malay Chamber of Commerce and Industry (SMCCI) shared their intent for RE investments and technologies at the residential and commercial levels.

“We are looking at rooftop, ground-mounted or any type or solar technology applications, including those with battery storage,” Project manager of Zaffra Solar Furqan Shamsudin said in a report in Manila Bulletin.

Shamsudin also said that they are looking forward to installing commercial and industrial rooftop solars.

He added that the group is currently working on a solar installation at the engineering company of Singapore Airlines at the Manila airport.

“These are the kind of projects that have been very interesting to us and the rest of our Singapore-Malay business members,” he stressed.

Other firms are enthusiastic for potential investments in the waste-to-energy facilities which will be further explored in a targeted business-matching drive next year.

DOE Assistant Secretary Caron Aicitel Lascano informed them of the application process on service contracts for renewable energy projects, as well as the set of incentives that are being offered.

By 2030, the country aims to have more than 15,300 megawatts of RE capacity in line with the government-designed Renewable Portfolio Standards.

Source 1