Marubeni plans major renewable energy investment in PHL

By Francis Allan L. Angelo

Marubeni Corporation is set to make significant investments in renewable energy projects in the Philippines, aiming to boost the country’s sustainable energy landscape.

The Japanese conglomerate’s plans include Smart Grid and Floating Solar projects in New Clark City and exploring Offshore Wind Power Projects.

Department of Trade and Industry (DTI) Secretary Fred Pascual emphasized the importance of this development during recent meetings with Marubeni executives.

“The DTI welcomes this opportunity to meet with Marubeni Corporation executives to strengthen the economic ties between the Philippines and Japan. The company’s continued presence can be a significant driver of our economic growth,” Pascual said.

The discussions focused on enhancing the investment climate for Japanese companies, highlighting the Philippines’ efforts to improve infrastructure and offer fiscal incentives.

Pascual also detailed the government’s food security agenda, linking it to broader economic growth strategies.

Established in the Philippines since 1909, Marubeni has been instrumental in several key infrastructure projects, including the San Roque Multipurpose Project and TeaM Energy Corporation’s thermal power plants.

The company’s new initiatives underscore its commitment to sustainable development, aligning with global environmental goals.

Marubeni is also leading a Joint Carbon Credit Program through afforestation, aiming to combat climate change and promote environmental health. These initiatives align with recent policy reforms in the Philippines that have opened up sectors such as renewable energy to more foreign direct investments.

“The Philippine administration continues to seek ways to make the business environment more conducive for foreign investments. Our commitment to foster a conducive business ecosystem is evident in recent policy reforms,” Pascual added.

The DTI’s efforts to support Japanese investments are part of a broader strategy to enhance the country’s economic landscape, particularly in sectors like renewable energy, where foreign expertise and capital are crucial.

Marubeni’s renewed focus on the Philippines reflects confidence in the country’s economic potential and underscores the vital role of sustainable energy projects in driving future growth.

The government’s proactive stance in creating an investor-friendly environment is poised to attract more such initiatives, promising mutual benefits and enhanced economic ties between the Philippines and Japan.