THE Board of Investments (BOI) has approved the registration of Nakashin Davao International Inc.’s 519.2-kilowatt peak solar photo voltaic (PV) rooftop system project. 

This is the first renewable energy (RE) project to be approved for energy efficiency incentives under Republic Act 11285 or the Energy Efficiency and Conservation (EE&C) Act.

With an estimated project cost of P26 million, the solar PV rooftop system will be installed at Nakashin Davao’s food manufacturing facility. 

Nakashin, a BOI-registered firm, is a leading exporter of agricultural and aquatic products such as mangoes and pineapples to Japan and the European Union.

The solar PV rooftop system, covered under Tier I of the 2022 Strategic Investment Priority Plan is designed to cut energy consumption. 

Over its 25-year lifespan, it is expected to deliver annual energy savings of 17.27 gigawatt hours, resulting in a total reduction of 137,000 tons of CO2 emissions.

The project’s registration entitles Nakashin to an income tax holiday equivalent to 50 percent of its capital investment, a benefit covered by the Corporate Recovery and Tax Incentives for Enterprises ) Act.

The Department of Energy has certified that Nakashin’s project meets the required standards for endorsement to the BOI, further supporting its alignment with the country’s sustainability goals. The EE&C Act, enacted in 2019, encourages the development of energy-efficient technologies to optimize the use of the nation’s energy resources.

By adopting RE technologies like solar, companies in the Philippines can significantly reduce their electricity costs and reinvest savings into business expansion, boosting overall economic growth. Nakashin’s solar rooftop system will not only lessen its dependence on grid-supplied electricity but will also provide reliable and sustainable power for its operations.