MANILA – Another renewable energy (RE) project is set for the Aurora Pacific Economic Zone and Freeport Authority (APECO), targeted to boost the energy capacity of the Casiguran-based investment promotion agency to attract more investments.
Canadian Prime Minister Mark Carney, in a news release on Saturday, said a memorandum of understanding (MOU) has been signed by officials of APECO and JCM Power.
Officials and personnel of both parties were presented during the Canada-ASEAN Business Forum in Parañaque City on Sunday.
Undersecretary Gil Taway IV, APECO president and chief executive officer (CEO), told the media that the Canadian firm intends to put up solar- and wind-powered projects in APECO.
He said they presented investment opportunities on the freeport zone to JCM Power officials last October, and met with their officials during APECO’s investment mission in Canada earlier this month.
Jim Bahen, JCM Power CEO, in a separate interview at the forum, said the MOU with APECO is their initial project in Asia.
He, however, declined to give specifics, pending discussions on the conduct of a feasibility study early next year to “understand exactly the scale (of the project) and what is the potential.”
“This will be our first, sort of, entrance into the Philippines,” he said.
“I think, for us, we just see (that) there’s a huge potential here, both on the demand for power, potential in the human capital that exists here. And we’re just excited to get started into the Philippines.” (PNA)
