BATAAN FREEPORT – A P2 billion new Solar power plant will soon rise here after the Authority of the Freeport of Bataan (AFAB) recently signed contract with Next Generation Power Technology Corp. (NGPT)for a Renewable Energy project at the Freeport Area of Bataan (FAB).
“We are very pleased to add NGPT to the FAB family. This project reaffirms our commitment to innovation and sustainable development in the FAB. It is also expected to become an ecotourism attraction in the Freeport”, said AFAB Chairman Deogracias G.P. Custodio.
NGPT, a Filipino-Korean renewable energy developer, committed to invest P2B for a 20MW Solar Power Plant that will rise in a 37.5 hectare lot in the FAB.
“We are happy that this project is finally pushing through here at the FAB. They offered us a very good location for the solar power plant and we can enjoy incentives that we need to be able to start the project smoothly”, said NGPT CEO Charles Park.
The investment project also furthers AFAB’s efforts to meet the renewable energy goals set by the Philippine Government.
Republic Act 9513 or the Renewable Energy Act of 2008 promotes the acceleration of development and utilization of renewable energy resources such as solar energy sources to reduce the country’s dependence on fossil fuels.
With investment projects coming in, the FAB continues to increase its investments record every year. For 2013, the FAB recorded P2.1B worth of investments, surpassing significantly the P390.6M worth of investments in 2012.
Other investments approved in 2013 include companies in the manufacturing, BPO, ship building and repair facility sectors.
Gov Abet S Garcia said that some more projects and investors are on the pipeline, making FAB as the new investors’ haven in the region.