Economic zones will soon be powered by solar energy.
The Philippine Economic Zone Authority (PEZA) yesterday said it has inked a memorandum of understanding (MOU) with the Upgrade Energy Philippines Inc. (UGEP) for the development of solar energy projects within the ecozones.
PEZA in a statement said the first phase of the partnership, will start with two government-owned ecozones Cavite Economic Zone (CEZ) and Baguio City Economic Zone (BCEZ) with 10 MW of solar energy capacity each .
Under the MOU, UGEP will conduct feasibility studies in CEZ and BCEZ to determine the viability of the first phase projects prior to its implementation.
The MOU likewise allows UGEP to generate and sell solar power to the end consumers in the zones through the designated distribution utilities inside the ecozones.
PEZA will provide the assistance to UGEP for the conduct of the studies, identification of the land areas within the zones suitable for the project, and in the registration of the Solar SPVs under PEZA pursuant to the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law and the Renewable Energy Act of 2008.
