The Philippines is inviting Chinese companies to bring in their technology and expertise in equipment design and manufacturing for solar and wind power generation, according to the Department of Trade and Industry (DTI). Know more:
The Philippines is inviting Chinese companies to bring in their technology and expertise in equipment design and manufacturing for solar and wind power generation, according to the Department of Trade and Industry .
“Tax and other incentives are available for renewable energy projects under the Philippines’s 2022 Strategic Investment Priority Plan [SIPP] from the DTI Board of Investments,” Pascual said. “Under the Renewable Energy Law, the Board of Investments administers income tax holidays, duty-free importation, and tax exemption of carbon credits. Other government agencies administer corporate tax rates, net operating loss carry-over, and tax credits,” he said.
“We need over 52,800 megawatts [MW] of additional renewable energy capacity to reach our RE target by 2040,” Pascual said.
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