BOI encourages local producers to adopt energy efficiency

The Board of Investment (BOI) is calling on local producers to reduce their dependence on conventional energy sources by adopting energy efficiency and conservation practices under its “Make REshift Happen” campaign.

In a report published in the Manila Bulletin, Raquel Echague, Director of Resource-Based Industries Service at BOI, highlighted the benefits manufacturers can gain from transitioning to renewable energy (RE) in their operations.

Echague pointed out that companies can take advantage of various incentives when they decide to power their facilities with renewable energy sources. The campaign focused on updating guidelines for manufacturers to register energy efficiency and conservation (EE&C) projects under Republic Act (RA) No. 11285.

In addition, the campaign also targets export-oriented manufacturing companies and other industries with high demand for electricity recognized by the BOI, including the Subic Bay Metropolitan Authority (SBMA), Clark Development Corporation (CDC) and the Philippine Economic Zone Authority (PEZA).

Darwin Teh, Head of Locator Engagement at LIMA Land, Inc., said the goal of the roadshow is to promote sustainable investment opportunities.

BOI partnered with Aboitiz InfraCapital for this first roadshow, offering locators the opportunity to engage in discussions and one-on-one consultations on EE&C project registration.

Participating companies included Grandsun Advanced Electronics (Phils.) Co. Inc., Philippine Advanced Processing Technology, Inc. (PAPTI) and Proterial Philippines, Inc.

The Make REshift Happen roadshow series, a joint effort between the National Investment Promotion Service (DIPS), Resources Industry Service (RBIS) and Manufacturing Industry Service (MIS), aims to provide EE&C design guidance and support the government’s target of achieving 35% renewable energy in the energy mix by 2030 and 50% by 2040.