BOI ROADSHOW. The Board of Investments (BOI) holds its first "Make REshift Happen" at the LIMA Technology Center in Lipa City, Batangas on Aug. 2, 2024. The roadshow targets export-oriented BOI-registered companies. (Courtesy of BOI)
MANILA – The Board of Investments (BOI) said Monday it has launched the “Make REshift Happen” to promote among registered business enterprises (RBEs) the adoption of energy efficiency and conservation (EE&C) projects that can also be granted additional incentives.
The BOI’s first roadshow stop was at LIMA Technology Center in Lipa City, Batangas last Aug. 2. The roadshow is also designed for BOI RBEs located in Subic Bay Metropolitan Authority (SBMA), Clark Development Corporation (CDC), as well as Philippine Economic Zone Authority (PEZA) locators.
“The government would like to encourage existing plants to reduce their conventional energy consumption by undertaking energy efficiency and conservation initiatives, and adopting the use of RE (renewable energy) to power their operations. There are incentives for you if you power your plants with RE,” BOI Resource-Based Industries Service Director Raquel Echague said in a statement.
To recall, the BOI issued last year Memorandum Circular 2023-006, which gives additional perks to RBEs that build their own RE capacity and use the clean energy output for its own consumption, shifting from conventional to RE.
The BOI told the Philippine News Agency that it is currently reviewing the application of an agribusiness company for additional incentives for using its own RE capacity.
"As of current, the BOI has received one application from an agribusiness company and is currently evaluating it. The RE capacity being applied is based on the requirement of the plant itself, but they applied not necessarily the whole required as they will still get power from the grid," it said.
Moreover, the roadshow also offers one-on-one consultations with companies interested in registering their EE&C-related projects with BOI.
Among the companies that the BOI met in its first roadshow were Grandsun Advanced Electronics (Phils.) Co. Inc., Philippine Advanced Processing Technology, Inc. (PAPTI), and Proterial Philippines, Inc., among others.
Meanwhile, LIMA Land, Inc. manager of locator engagement Darwin Teh said LIMA Estate is already advancing its EE&C initiatives.
“Lima Estate epitomizes our vision of becoming a smart and sustainable estate. Our focus on sustainability has not only driven significant innovation but has earned us several accolades. These are a testament to our unwavering dedication to creating a green, smart, and sustainable environment that fosters economic growth and enhances the quality of life for our community,” Teh added.
The BOI said the Make REshift Happen supports the government’s target of increasing RE share in the energy mix to 35 percent by 2030 and to 50 percent by 2040. (PNA)
