THE Philippine Economic Zone Authority (PEZA) and investment firm IP Ventures Management Ltd. (IPVML) have signed a contract to develop a 31-megawatt-peak (MWp) solar power facility in the Cavite Economic Zone (CEZ), aimed at providing cleaner, more reliable and cost-competitive energy to locator companies.
A 31-MWp solar plant can offset a significant portion of daytime electricity consumption of factory and commercial locators operating during daylight hours.
It can reduce dependence on grid power, which, in the Philippines, is among the most expensive in Asia.
It can also lower the ecozone’s carbon footprint, which matters to multinational companies with sustainability mandates.
The agreement was signed by PEZA Director General Tereso Panga, IPVML corporate secretary Jose Voltaire Bautista, Cavite Economic Zone Administrator Ross Vincent Sy and IP Solar Corp. representative Joaquin Francisco.
IP Solar Corp., an IPVML subsidiary, will serve as project operator and implementer.
The initiative supports the government’s National Renewable Energy Program and forms part of PEZA’s broader strategy to expand clean energy use across its economic zones.
From 2021 to 2025, the Board of Investments approved 338 renewable energy projects worth P3.68 trillion, with a combined capacity of 36.9 gigawatts.
“A lot of investors today are looking beyond the cost of doing business — they want to know if their operations are sustainable, and this project helps us answer that,” Panga said.
PEZA and IP Ventures also donated P100,000 worth of medical and dental equipment — including portable dental chairs and instruments — for health care programs serving workers in the CEZ in Rosario.
