PEZA registers P370‑million manufacturer of solar modules targeting European markets
THE Philippine Economic Zone Authority (PEZA) said it approved a P370‑million investment by a renewable energy manufacturer seeking to produce solar photovoltaic modules at a Batangas facility for export to European Union.
In a social media post on Wednesday, PEZA said it registered Genuine Renewable Energy and Eco-Friendly Energy Network Corp. (GREEENC), as an economic zone enterprise on April 13.
The plant is expected to generate about $132 million in export sales, PEZA said.
It will focus on the manufacture, assembly, and export of high-quality solar photovoltaic modules for residential, commercial, industrial, agricultural, utility-scale, and off-grid applications.
GREEENC’s plant will be located at the Light Industry and Science Park III Special Economic Zone, a 124-hectare industrial park in Sto. Tomas, Batangas.
PEZA Director General Tereso O. Panga said the investment aligns with the need for alternative energy sources as the Iran war fuels volatility in global oil prices.
“As nations grapple with energy insecurity, rising fuel costs, and climate-related disruptions, initiatives in renewable energy manufacturing strengthen long-term resilience,” he said.
Global oil prices have risen since the outbreak of fighting in the Middle East, with Brent crude averaging around $105.53 per barrel as of April 13.
The Philippines, whose power network is still reliant on coal and gas, sources about 26% of its power from renewables.
“By enabling local solar manufacturing, the project supports national sustainability targets and reinforces efforts to build a climate-resilient, future-ready Philippines,” PEZA said. — Beatriz Marie D. Cruz
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