Sharp eyes Subic Bay for renewable energy hub

Sharp Solar Solution Asia is setting its eyes on transforming Subic Bay Freeport into a renewable energy hub in the region.

This move aligns with the country's broader initiative to embrace green energy solutions, following recent policy shifts that encourage foreign investment in the renewable sector.

During a recent visit to Subic, Sharp's CEO Hideyuki Inada discussed with Subic Bay Metropolitan Authority (SBMA) Chairman Eduardo Aliño the potential for solar energy farm projects within the freeport zone.

 

This initiative is not only a testament to the growing trust and confidence in the administration of President Ferdinand Marcos Jr.'s renewable energy programs but also leverages Japan's favorable foreign exchange rates, enhancing Sharp's competitiveness in the global solar energy market. 

Sharp's successful operation of solar farms across Vietnam, Thailand, Mongolia, and Laos, alongside its existing projects in the Philippines, underscores its capability and commitment to advancing solar energy solutions.

The entry of Sharp into the Subic Bay Freeport signifies a positive shift in the investment climate, promising substantial economic and environmental benefits. 

The partnership is expected to bolster the Philippines' position as a leading destination for green energy investment, spurred by recent legislative changes that allow 100 percent foreign ownership in renewable energy projects. 

These reforms have already led to a surge in investment applications, including offshore wind and floating solar projects, highlighting the country's potential to generate significant employment opportunities in the renewable sector. (bnnbreaking.com)

Source:https://bnnbreaking.com/finance-nav/business/sharp-solar-solution-asia-eyes-subic-bay-for-renewable-energy-hub-boosting-philippines-green-initiatives