As the Philippines intensifies its efforts to achieve its green energy objectives, a Chinese company is set to initiate the construction of two additional solar projects in Luzon.
China Energy Engineering Group Co., Ltd. (Energy China) announced in a press release that it has entered into eight cooperation agreements, including general contracts for two solar projects. These projects include a 304-megawatt solar power plant in Bolo, Labrador, Pangasinan, and a 49.50-MW Shizen Palauig Solar PV project in Zambales. These agreements were formalized during the Belt and Road CEO Conference in Beijing on October 17.
In addition to the Philippine projects, Energy China also signed agreements for 30 other projects with a total value exceeding USD 10 billion, spanning 20 countries such as Uzbekistan, the United Arab Emirates, Greece, Russia, and Saudi Arabia. These projects encompass a range of industries, including solar and wind power, energy storage, gas power plants, power transmission and transformation, data centers, real estate construction, highways, natural gas, and chemical engineering.
As a leading provider of energy and power solutions globally, Energy China has positioned itself as a key participant, advocate, and beneficiary of the Belt and Road Initiative (BRI). Over the past five years, the company has signed agreements with partners from BRI member countries, including the Philippines, with a combined value exceeding RMB 500 billion (PHP 3.8 trillion).
Energy China has invested in and designed numerous “green” projects that have positively impacted local communities, contributing to high-quality BRI cooperation.
Chen Jiping, the General Manager of Energy China’s subsidiary, China Power Engineering Consulting Group Co., emphasized the Philippines’ substantial potential in renewable energy (RE). He noted that the country possesses abundant wind and solar energy resources that are yet to be fully harnessed.
The Philippines has set ambitious goals for renewable energy, aiming to have a 35% share in the power mix by 2030 and 50% by 2040, as highlighted in President Ferdinand R. Marcos Jr.’s second State of the Nation Address in July.
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