The Board of Investments (BOI) approved the registration of Nakashin Davao International Inc.’s 519.2-kWp Solar PV Rooftop System project, the first renewable energy (RE) project to be granted energy efficiency incentives under the Energy Efficiency and Conservation (EE&C) Act.
The P26-million solar project, which will be installed at Nakashin Davao’s food manufacturing facility, has an annual energy savings of 17.27 gigawatt-hours over its 25-year lifespan, leading to a total reduction of 137,000 tons of carbon emissions.
Nakashin’s registration for the project entitles them to an income tax holiday (ITH) equivalent to 50 percent of its capital investment under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act. The Department of Energy (DOE) certified that the project meets the required standards.
The EE&C Act, enacted in 2019, encourages the development of energy-efficient technologies.
