State-run Philippine National Oil Co. (PNOC) and the subsidiary of the Land Bank of the Philippines (LANDBANK) entered into a memorandum of understanding (MoU) to study the installation of rooftop solar systems in the latter’s 21-hectare economic zone (ecozone).
PNOC President and Chief Executive Officer (CEO) Oliver B. Butalid said during the MoU signing with LBP Resources and Development Corp. (LBRDC) on Tuesday that the company is aiming to position itself as a service agency to government entities.
“We would like to step into that role and make the government entities benefit from all of these technologies in renewables,” Mr. Butalid said.
“And so that is our contribution not only to government agencies [in] reducing their electricity cost, their recurring expense, but of course achieving societal goals of ensuring that we use energy more efficiently,” he added.
PNOC said that the partnership will involve sharing of technical expertise and pooling of resources to develop sustainable solar initiatives.
The two entities are seeing a three-month timeline for conducting further studies on suitable installation sites and structural assessments before formalizing a memorandum of agreement (MoA).
Upon completion of the MoA, procurement and installation activities will commence, the company said.
“On our side, we are also really very excited. It’s not just because we want to save money on electricity, but it’s because of the multiplier effect of what this partnership can achieve,” LBRDC President and CEO Ricardo C. Juliano said.
LBRDC said that the economic zone has an energy requirement of 300,000 kilowatt-hours a month.
“Lowering the energy costs within the economic zone could have the potential effect of making it more attractive to investors by reducing overall operating expenses,” Mr. Juliano said.
LBRDC is engaged in construction, project management, brokering services and real estate management and development. — Sheldeen Joy Talavera
