Maxeon, a global leader in solar technology and innovation said it is eyeing to invest some $900 million in solar energy in the Philippines, in a move to expand its operations in the country.
The announcement came after the officials of Maxeon met with President Ferdinand R. Marcos Jr. and his delegation in Washington DC.
The President met with business leaders in a series of meetings at the Blair House on Tuesday afternoon in a bid to attract more investments to the country.
Bill Mulligan, CEO of Maxeon which operates the SunPower brand in all global markets including the Maxeon brand in the United States, Canada and Japan, said the investment will provide more than 3,000 jobs in the next few years.
Mulligan noted the confidence his company has in the administration of President Marcos as the reason behind his company’s expansion efforts.
“The Philippines has been incredibly important… it’s actually a strategic part of our company. And I want to thank you and I want to thank all of the government agencies for all of the help and the support for the 40-plus years that we’ve been in the country,” Mulligan said.
The Maxeon executive also said he is looking forward to continuing to expand the engagement with the Philippine government concerning the company’s operations.
Mulligan said they are starting the expansion of their research and development (R&D) facility in Cavite, providing around 2,000 engineering jobs in the area.
Maxeon, which also has major manufacturing facilities in Malaysia and Mexico, has been operating in the Philippines since 2003 and opened its first factory at the Laguna Technopark in Biñan City in 2004.
It operates in the country under the name of Sunpower Philippines Manufacturing Ltd and has seven projects in Biñan consisting of manufacturing, IT, and logistics activities.
Maxeon has trained a skilled local workforce of managers and solar engineers in the Philippines numbering more than 1,000.
The Marcos administration has continued to pursue measures and policies to ensure the availability of cheap and reliable energy through the promotion and utilization of renewable energy (RE) sources.
Joining President Marcos in the meeting were former President and now Senior Deputy Speaker Gloria Macapagal-Arroyo, Speaker Martin Romualdez, Trade Secretary Alfredo E. Pascual, Finance Secretary Benjamin E. Diokno, Special Assistant to the President Secretary Antonio Ernesto Lagdameo Jr., Philippine Ambassador to the United States Jose Manuel G. Romualdez, and Trade Undersecretary Ceferino Rodolfo.