October 19, 2024 | 12:00am
MANILA, Philippines — The Philippine Economic Zone Authority (PEZA) and the Philippine National Oil Co. (PNOC) have teamed up to delve into the development of a self-generating industrial park (SGIP).
In a statement yesterday, the PEZA said a memorandum of understanding (MOU) was signed by PEZA director general Tereso Panga and PNOC president and CEO Oliver Butalid last Oct.14 for the partnership.
The MOU will focus on strengthening the energy sector within PEZA-managed ecozones while identifying new energy projects and business opportunities.
Under the agreement, the PEZA will provide information, conduct studies and offer logistical support to evaluate the feasibility of developing the SGIP.
In addition, the investment promotion agency will work with PNOC on various energy initiatives, including the installation of solar photovoltaic (PV) rooftops on government buildings, retail electricity supply projects, promotion of clean and renewable energy technologies, small-scale natural gas initiatives for local communities and the development of oil and gas depots and storage facilities.
In the future, the scope of the partnership may expand to cover other energy-related ventures as opportunities arise.
Through the MOU, the main goal is to foster cooperation between the PEZA and PNOC in advancing energy projects while exploring other opportunities for collaboration.
Both organizations will conduct scoping activities, pre-feasibility and feasibility studies and promote energy programs within PEZA zones.
The MOU is considered a pivotal step in the two organizations’ shared mission to promote energy innovation in the country.
“Our aim is to address energy challenges in off-grid islands through SGIPs, offering not just solar rooftops for new buildings but also sustainable, long-term energy solutions,” Butalid said.
Panga said the organizations have a common resolve to develop embedded energy resources, promoting clean and green production as well as ensuring energy sufficiency through an agency-to-agency collaboration aimed at deploying energy facilities in the ecozones throughout the country.
“This is all for our pursuit of attracting energy-intensive and green investments such as those in the semiconductor and EV (electric vehicle) manufacturing industry, which are seen as the most promising, strategic and high-impact sectors across ASEAN (Association of Southeast Asian Nations),” he said.
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