MANILA, Philippines — The Philippine Economic Zone Authority (PEZA) has teamed up with fuel trading company Topline Energy Solutions Corp. for the supply of energy solutions in economic zones.
PEZA director general Tereso Panga and Topline president and CEO Eugene Erik Lapasaran Lim signed a memorandum of understanding (MOU) for a strategic partnership aimed at promoting investment activities in the country by providing stable and reliable power supply to various industries, particularly in the Visayas.
Under the MOU, the PEZA and Topline will work together to promote the adoption of clean, environmentally friendly energy solutions, including liquified natural gas, energy efficiency measures and advanced smart energy technologies.
Through these efforts, the aim is to help cut carbon emissions across PEZA ecozones and contribute to the country’s commitment to sustainable development.
The MOU is in line with the PEZA’s aim to further enhance energy solutions within its ecozones by focusing on sustainable and efficient energy projects.
Cebu-based Topline primarily serves customers in the Visayas.
As part of its growth strategies, Topline is accelerating efforts toward vertical integration or handling different stages of the supply chain, by expanding its presence in both retail and commercial fuel sectors.
Topline is also enhancing its depot operations to keep pace with the rising demand in Cebu.
The PEZA has been forging partnerships to encourage investments in the country.
For the January to October period, the PEZA has approved P123.756 billion worth of investments, down six percent from P131.757 billion in the same period last year.
The PEZA is aiming to approve P200 billion in investments this year, higher than last year’s P175.7 billion.