China’s SPIC readies $5B investment

- Advertisement -

The Philippines anticipates the investment of China state-owned firm State Power Investment Corp. Ltd (SPIC), believed to the world’s largest renewable energy (RE) company,  which has readied up to $5 billion for RE projects in the country, sources from the Department of Trade and Industry (DTI).

Sources said Ceferino Rodolfo, DTI undersecretary,  met with officials of SPIC during his visit to Nanning for the China-Asean Expo where the company  indicated readiness to put in equity for solar and hydropower projects in the Philippines.

The company is looking for Philippine companies active in RE as partners.

- Advertisement -

Information on the SPIC website showed the company SPIC is the only integrated energy group in China that holds assets of nuclear power, thermal power, hydropower and new energies simultaneously.SPIC establishes itself with such industries as power, coal, aluminum, logistics, finance, environmental protection and high-tech industries.

The company owns and operates power projects in North Africa, Asia, Europe, Oceania, North America and South America and  is headquartered Beijing.

Author

- Advertisement -

Share post: