Nakashin Davao’s Solar Power Project Gets BOI Approval, Leading The Shift Toward Renewable Energy In The Philippines

The Board of Investments (BOI) has approved the registration of Nakashin Davao International Inc.’s 519.2-kilowatt peak solar photovoltaic (PV) rooftop system project. This marks a significant milestone for renewable energy adoption in the Philippines.

The project, which will be installed at Nakashin Davao’s food manufacturing facility, is expected to reduce energy consumption and greenhouse gas emissions. With a projected annual energy savings of 17.27 gigawatt hours (GWh), the system is estimated to reduce CO2 emissions by approximately 137,000 tons over its 25-year lifespan.

As a Tier I project under the 2022 Strategic Investment Priority Plan (SIPP),

Nakashin Davao will benefit from various incentives, including an income tax holiday equivalent to 50 percent of its capital investment.

The Department of Energy (DOE) has certified that the project meets the necessary standards for endorsement to the BOI, underscoring its alignment with the Philippines’ sustainability objectives.

The project is expected to provide a reliable and sustainable power source for Nakashin Davao’s operations, reducing its reliance on grid electricity. It serves as a model for other businesses in the Philippines looking to lower their energy costs and contribute to a more sustainable future.

The BOI is actively promoting energy efficiency through its “Make REshift Happen” campaign, which includes roadshows in various regions of the Philippines. These events aim to encourage businesses to adopt energy-efficient practices and take advantage of available incentives.

By investing in renewable energy technologies like solar power, businesses can not only reduce their environmental impact but also improve their bottom line.