Japanese renewable energy developer invests in Philippines

MANILA, Philippines - Eguchi Holdings Co. Ltd., a Japanese solar and wind energy developer, is entering the Philippines mainly to develop renewable energy (RE) sources in the country at the household and grid level through a joint venture firm with a local satellite service provider.

The main vehicle for the Japanese firm’s business in the Philippines is Fujisan Solar and Wind Energy Corp., its joint venture with We Are IT Philippines Inc. (WIT).

The Japanese firm is currently investing in foreign countries and the Philippines is its first overseas venture, Eguchi president Katsuyoshi Eguchi said during the launch of Fujisan in Makati City late Tuesday.

“The Philippines has always been blessed with an abundance of solar power and the country is ready to harness this source of renewable energy. There is now a high level of awareness and appreciation of the advantages of sustainable solar energy,” he said.

In the same event, WIT COO Joseph Maddatu said Fujisan will be installing solar farms across the country, initially targeting five megawatts (MW) in the next two to three years.

“In the first year, we’re looking at anywhere from two to three MW. We’re looking at Cagayan Valley, Tanay and Pililia, Rizal, and a few in Mindanao,” he said.

Maddatu noted the company is in the process of applying for solar contracts with the Department of Energy (DOE).

“If we have sufficient solar power, just like what they have in Japan, then we hope to lower down our dependence on fossil fuel,” he said.

Fujisan will also be introducing Japanese technology to certified solar panels for household use.

Apart from selling solar panels, Fujisan will provide services ranging from installation and implementation of the technology, Maddatu said.

“Primarily, what we do is deploy solar power for both consumers and enterprises,” he said. “You have a company that will talk to you, that will guide you through the process. We will actually provide implementation. We will be the one to talk to Meralco.”

Consumers with renewable energy technologies installed in their homes can sell to the grid through distribution utilities their excess generation through the net metering program.