Su Eon Kim, Chairperson of Lex Phil International Corporation, signed a Memorandum of Understanding with the Municipal Government and Tarlac II Electric Cooperative II (TARELCO II), for the P10 billion renewable energy project in the Barangay Bueno.
Kim highlighted future job and revenue opportunities that will be created by the construction of the facility. He explained that Capas was chosen as the site for the project because of its strategic location.
According to Mayor Roseller Rodriguez, the municipal government will accommodate Lex Phil International Corporation if it adheres to all municipal laws and ordinances.
“We will provide assistance to ensure the smooth implementation of this project, as this is an investment that our municipality welcomes. The chief executive of the municipality noted that it can also be used to solve the energy crisis in the country.
The MOU stipulates that the local government unit will assist the company to obtain all building, construction, and operation permits.
Aubrey Alimurung, the Board President of TARELCO II, backed the project, which could have a positive impact on the energy source, employment, and revenue in Capas.
“We welcome this investment that can benefit the LGU and cooperative. We should have many investors. She said that the more electricity is available, the less demand there will be. This could result in a cheaper price for electricity.
Alimurung said that the company is open to a joint venture.
TARELCO II will, in accordance with the MOU, provide to the company with the power load, the power projections and other relevant data required in the proposed construction.