The Board of Investments (BOI) has approved the registration of the P400 million complex energy efficiency project of Philippine DCS Development Corporation’s (PDDC), making it the first project of its kind to receive fiscal incentives under Republic Act 12066, or the CREATE MORE Act.
Trade Undersecretary and BOI Managing Head Ceferino Rodolfo met with PDDC officials during a courtesy visit on Oct. 20, where they discussed project details and implementation plans.
The project, to be located in Alabang, Muntinlupa City, involves the retrofitting and upgrading of a facility’s cooling system to improve reliability and energy performance.
According to the BOI, the system is expected to cut energy use by 36 percent annually, equivalent to about 168 gigawatt-hours in savings, and avoid an estimated 118,040 metric tons of carbon dioxide emissions.
The agency said the approval signals the emergence of more energy efficiency investments in the country under the CREATE MORE framework.
PDDC, a joint venture between Filinvest and French energy firm Engie, serves as a third-party project developer, providing clients with technical expertise and capital for long-term operational savings and emissions reduction.
The BOI said it continues to encourage enterprises to adopt energy efficiency measures, noting that such projects lower costs, reduce environmental impacts and enhance the competitiveness of local industries.
