Eco-Friendly Innovations: Why Chinese Corporations are Betting Big on Renewables

The Board of Investments (BoI) announced that two Chinese companies have promised to invest money in green energy and gadgets.

These promises were made during the China-ASEAN Expo, where Ceferino S. Rodolfo, who leads the BoI and is a Trade undersecretary, talked to reporters online.

One of these companies is owned by the Chinese government and says it’s the biggest green energy company in China. They have $15 billion they can use for projects in Southeast Asia, and they want to put $1 billion to $5 billion into green energy projects in the Philippines. This money can be used to buy a part of the project or to help pay for it. They’ll also bring their technology expertise. They’ve asked us to introduce them to Philippine companies that work on green energy projects.

This government-owned company works on solar, wind, and hydropower energy projects. The other company already works in Batangas and specializes in certain types of electronic gadgets. Right now, they’re renting a place from another company, but they’ve got five hectares of land in Batangas. They plan to build a top-quality factory there. They also want to create a research and development center for software in the Philippines.

The Department of Trade and Industry (DTI) also talked to another company that’s interested in entering the Philippine market. Right now, they just want to start selling electronic products in the Philippines. They don’t have plans to build a factory for assembling products yet, which is what we would like them to do.

We don’t know the names of these companies yet. The BoI says it has approved projects worth P725.93 billion as of September 12, almost reaching the total for all of 2022, which was P729 billion.

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Amar Shinde is a writer and researcher specializing in the intersection of culture, technology, and society. In their free time, they enjoy playing chess.