RE firm seeks BOI perks

MANILA, Philippines - Local firm EcoMarket Solutions Inc., is seeking tax perks from the Board of Investments (BOI) for a biomass project in Aurora.

“Notice is hereby given that EcoMarket Solutions Inc. is applying for registration with the BOI as a new renewable energy developer of biomass energy resources with project located in 321 Baler-Casiguran Road, Brgy. Dibaraybay, Dinalungan, Aurora Province,” a published notice read.

The project is expected to provide up to two megawatts of power.

The power to be generated will be fueled by waste wood, coconut shells as well as rice and coconut residues.

The power generated by the project will be used by local electric cooperative Aurelco for four municipalities such as Dinalungan, Casiguran, Dilasag in Aurora and Dinapigue in Isabela.

Should its application for registration with the BOI be approved, it can qualify for incentives such as income tax holidays and duty-free importation of equipment.

The government offers incentives for activities under the Investment Priorities Plan (IPP) or the country’s investment promotions blueprint.

Energy projects are part of the government’s preferred activities under the IPP.

Apart from energy, other preferred activities are agriculture or agribusiness and fishery; creative industries or knowledge-based services; shipbuilding; mass housing; infrastructure; research and development; green projects; motor vehicles; strategic projects; disaster prevention, mitigation and recovery projects; iron and steel; and hospital or medical services.

EcoMarket Solutions was formed by Gao Pronove who was previously affiliated with the United Nations on work on climate change capacity-building, and Robbie Mathay, who has managed biofuel farms in Zamboanga.