MANILA, Philippines - The Subic Bay Metropolitan Authority (SBMA) and Jobin SQM Inc. have entered into an agreement with local tribes at the Subic Bay Freeport Zone for a renewable energy project there.
In a statement posted on its website, the SBMA said Ayta tribal chieftain Conrado Frenilla and Ayta elder Bonifacio Florentino signed a memorandum of agreement on Friday with the agency’s chairman Roberto Garcia and Jobin SQM Inc. president Nancy Tan for the implementation of a renewable energy project.
The facility would be established on an 800-hectare property in Mount Sta. Rita, which is part of the Ayta ancestral domain at the Subic Bay Freeport Zone.
The $200-million renewable energy facility to be put up by Jobin would produce 150-megawatts of combined solar and wind energy.
Garcia said the project was formally committed during President Aquino’s visit to China in September 2011.
Jobin’s project would be a pioneering venture for the establishment of renewable energy facilities at the Subic Bay Freeport Zone.
Jobin has entered into a joint venture agreement with China’s Hydrochina International Engineering Co., Ltd. (HIECL) for the engineering, procurement and construction of the project.
HydroChina is engaged in renewable energy development projects worldwide and operates projects in the fields of hydropower, wind power and solar power.
It is likewise involved in power grid construction, thermal power, environment protection, municipal construction and transportation facility.
The development and promotion of renewable energy is being promoted by the government amid growing energy requirements here.
Republic Act No. 9513 or the Renewable Energy Act of 2008 aims to accelerate the exploration and development of renewable energy resources, increase utilization of such and promote their efficient and cost-effective commercial application.
Renewable energy is also listed in the government’s investment promotions blueprint, the 2014 Investment Priorities Plan.