Forty European companies are expected to visit the Philippines for business matching opportunities in energy efficiency and sustainability later this month.
The investors are a part of the European Union Business Mission on Green Energy who are keen on creating business partnerships in the green energy sector in the country.
“For years, the EU has been actively supporting the Philippines in engaging stakeholders towards creating and implementing policies and programs that provide increased efficiency in energy use and renewable energy development,” said European Chamber of Commerce of the Philippines president Guenter Taus.
The EU allocated 190 million euros from its cooperation budget of 325 million euros for job creation including renewable energy for 2014 to 2020.
The EU launched the Access to Sustainable Energy Programme or ASEP in 2014 with a P3-billion grant to help the government achieve its electricity and energy efficiency goals. ASEP aims to assist the government to meet its rural electrification targets by means of renewable energy and promote energy efficiency.