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The PEZA, Philippine Economic Zone Authority has collaborated with UGEP, Upgrade Energy Philippines to develop solar energy projects in economic zones.
The investment promotion agency released a statement stating that Tereso Panga, PEZA’s officer-in-charge, and Ruth Yu-Owen, UGEP’s president and chief executive officer, had signed an MOU last September 22 in order to set up solar energy projects within PEZA zones.
“PEZA welcomes partnerships like this which promote the goal of environment-friendly industrialization,” Panga said.
To determine the viability and feasibility of installing solar projects in these ecozones, the first phase of the partnership will involve the conduct of feasibility studies at Baguio City Economic Zones (BCEZ) and Cavite Economic Zone (CEZ).
This is because UGEP aims at building a 10 MW scale solar project for CEZ as well as BCEZ in order to generate and sell solar energy to end consumers via the distribution utilities within the ecozones.
“Promoting the use of renewable energy is extremely paramount in our country so we can save billions of pesos in energy and electricity consumption, generate more jobs and at the same time, reduce our country’s share of carbon emissions, therefore, fighting the adverse effects of the global climate change,” Panga added.
PEZA will provide the necessary help to UGEP for conducting the studies, identifying land for projects and the registration of its projects in PEZA under the Corporate Recovery and Tax Incentives for Enterprises Law (CREATE) as well as the Renewable Energy Act of 2008, respectively.
“These efforts will also contribute to the country’s overall efforts to attaining our pledge to move ahead with urgency and cut greenhouse gas emissions through localized climate change interventions and transition from coal to clean energy. Let us also do our part in implementing a collective approach to both revive the economy and at the same time protect our environment,” Panga said.