MOU signing with PEZA

On September 16, 2024, HQ Company Special Energy Philippines and the Philippine Economic Zone Authority (PEZA) officially signed a Memorandum of Understanding (MOU) to commence a rooftop solar installation project within the Baguio City Economic Zone (BCEZ). This MOU solidifies the partnership and outlines the responsibilities of both parties in developing and implementing the renewable energy project.

Project Overview: BCEZ Rooftop Solar Installation

The rooftop solar project aims to install solar panels on the rooftops of various facilities within BCEZ, making it one of the largest solar energy installations in the region. The project will transform unused rooftop spaces into energy-generating assets, supplying clean and renewable power to industries operating within the zone.

Objectives of the MOU

Sustainable Energy Supply: The primary goal of the MOU is to integrate solar power into BCEZ’s energy grid, reducing reliance on traditional energy sources like coal and fossil fuels. This will allow BCEZ businesses to operate more sustainably.

Cost Reduction: By utilizing rooftop solar installations, industries within the zone can expect a significant reduction in energy costs over the long term, improving the economic viability of their operations.

Environmental Impact: The project will contribute to carbon emission reduction, aligning with global and local environmental sustainability goals. It also helps PEZA in promoting "green economic zones" in the Philippines.

Innovation and Competitiveness: The partnership with HQ Company Special Energy Philippines brings in technical expertise in renewable energy. This collaboration enhances BCEZ's competitiveness as a forward-thinking industrial hub, attractive to environmentally-conscious investors and companies.

Role of PEZA in the MOU

• PEZA’s Commitment: As a government entity responsible for promoting investments and managing economic zones, PEZA’s role in the MOU includes facilitating regulatory approvals, providing incentives, and ensuring that all infrastructure and support needed for the rooftop solar installation are in place.
• Incentives for Businesses: PEZA is also expected to offer fiscal incentives, such as tax breaks or duty exemptions on imported equipment, to companies operating in BCEZ that participate in the solar project.

HQ Company Special Energy Philippines' Role

• Project Execution: HQ Company will oversee the design, installation, and maintenance of the solar panels. This includes conducting feasibility studies, ensuring technical specifications, and managing logistics for the rooftop solar installations.
• Energy Management: Once the panels are operational, HQ Company will handle energy distribution, potentially managing the sale of surplus energy generated back to the grid or within BCEZ.

Key Details of the Solar Project

Capacity: The total energy generation capacity from the rooftop installations is expected to meet a significant portion of BCEZ’s energy demand. The project might include a mix of solar panel types and the latest technologies to maximize energy efficiency.

Phased Implementation: The project will likely be implemented in phases, with the first phase targeting key industrial buildings within BCEZ. As more rooftops are outfitted with solar panels, the total capacity will grow incrementally.

Job Creation: The rooftop solar project is also expected to create local jobs related to solar panel installation, maintenance, and operation, contributing to the local economy.

Significance of the MOU Signing

The MOU signing on September 16, 2024, marks a pivotal moment for both HQ Company Special Energy Philippines and PEZA in advancing the country’s renewable energy initiatives. It aligns with national efforts to shift toward cleaner energy sources, reduce carbon footprints, and enhance the sustainability of economic zones.

This project will not only reduce energy costs and promote environmental responsibility but also position the Baguio City Economic Zone as a model for other economic zones looking to adopt green technologies.

Future Outlook

The success of this solar installation project could pave the way for further renewable energy developments in other PEZA-managed economic zones across the country, reinforcing the Philippines' commitment to renewable energy and sustainable industrial practices.