Singaporean firms bullish on RE investments in PH
By Myrna M. Velasco – August 30, 2018, 10:00 PM
from Manila Bulletin
Department of Energy (DOE) logo
(MANILA BULLETIN)
SINGAPORE – Investments in the renewable energy (RE) sector – primarily solar and waste-to-energy facilities, are the sphere where many Singaporean investors have been taking a keen eye on when it comes to injecting capital in the Philippines.
The Singapore Malay Chamber of Commerce and Industry (SMCCI) has formally communicated this to the Department of Energy (DOE) in a meeting with their key officers and members.
Furqan Shamsudin, project manager of Zaffra Solar, indicated that their company as well many other SMCCI member-firms are interested in solar investments in the Philippines.
“We are looking at rooftop, ground-mounted or any type or solar technology applications, including those with battery storage,” he said.
Shamsudin added that they set interest not just on prospective residential-anchored ventures, but more keenly on commercial and industrial rooftop installations.
Currently, he emphasized that they are 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.
Several other firms are also raring for prospective ventures in the waste-to-energy facilities, thus, this is one investment area that they will be exploring further in the Philippines in a targeted business-matching drive next year.
In a meeting with the chamber officials, DOE Assistant Secretary Caron Aicitel E. Lascano has apprised them of the application processes on service contracts for renewable energy projects as well as the set of incentives that relevant Philippine policies have been offering for the sector.
Renewable energy investments in the country are seen flourishing further with the targeted installations of more than 15,300 megawatts of RE capacity until 2030 in line with the government-designed Renewable Portfolio Standards.
