German investors see potential in the Philippines’ renewable energy market.
Stefan Schmitz, president of the German-Philippine Chamber of Commerce and Industry (GPCCI), said in a statement more than 80 business-to-business meetings were arranged during a business mission conducted with Eclareon, the Renewable Energy Association of the Philippines and the Philippine Green Building Initiative.
Schmitz said German companies have recognized the potential of the Philippines in the field of renewable energy especially in providing solutions for off-grid areas utilizing solar hybrids and energy storage systems.
Mylene Capongcol, director of the Department of Energy’s Renewable Energy Management Bureau, said “solar and other renewable energy options are attractive and encouraged given the renewable energy policies” of the government.
Capongcol said investments in the sector have also become attractive as the use of fossil fuel in off-grid areas remains unsustainable in operations, economic and environmental terms.
The GPCCI said the virtual business mission was joined by eight German companies including the 21st Century Clean Energy, BAE Batterien, DHYBRID Power Systems, Ferntech, iQron, KRAFTWERK Renewable Power Solutions, TESVOLT and Wollny Consulting.
The group said participating companies will further explore partnership potentials with Philippine counterparts.
The mission is part of the German Energy Solutions Initiative — an export program of the German Federal Ministry for Economic Affairs and Energy to support their firms with global outreach. – Jed Macapagal
