German firms with technical know-how in energy efficiency are seeking business partners in the Philippines, according to the German-Philippine Chamber of Commerce and Industry (GPCCI).
The German business group said it recently held a business mission that gathered 100 participants, including German and Philippine industry experts to share knowledge in the area of energy efficiency.
“These visiting German companies have the advanced technical know-how in the field of energy efficiency, and we are happy to provide the stage for them to connect with both key public and private stakeholders in the Philippines,” GPCCI Executive Director Christopher Zimmer said in a news statement issued on Tuesday.
According to GPCCI, five German companies, specifically SolarNextAG, MIG mbH, Hörmann KG, eeaser GmbH, and Ecoligo GmbH, attended the business mission.
The companies, GPCCI noted, discussed these topics respectively: Systems Solutions in Regenerative Heat and Cooling Supply; Thin Insulations and Smart Coatings; Fire-rated and Multi-purpose Door Solutions; Energy Efficiency in Consultancy; and Clean Energy Transition Solutions.
For his part, GPCCI President Stefan Schmitz noted that several German companies are already involved in the industry of energy efficiency in the Philippines. In line with this, he said “this delegation signals an increased potential and investor interest.”
Meanwhile, the business group noted the conference was also participated by Philippine Energy Efficiency Alliance (PE2) President Alexander Ablaza and Patrick Aquino of the Department of Energy’s (DOE) Energy Utilization Management Bureau.
Ablaza noted that while energy efficiency has cost-saving benefits, it is “one of the most labor-intensive” activities in the energy sector. With this, he said “there is a huge potential for investment opportunities in the Philippines and can generate more green jobs.”
Representing DOE, Aquino said energy department’s vision is to have renewable energy (RE) plus energy efficiency to attain energy sustainability targets. In fact, the DOE official added, “We are currently developing policies that will effectively implement the intended objectives of the Energy Efficiency and Conservation Act.”
GPCCI said the German delegation would explore partnership potentials with Philippine counterparts through business-to-business meetings, project site visits and other business networking activities in the coming days.
The conference runs from March 20 to 24, according to the German business group.
In November 2022, the GPCCI commended the DOE’s decision to relax foreign equity restrictions in the renewable energy sector. DOE Secretary Raphael Lotilla said that following the loosening of restrictions, “we expect an increase in investments in the sector which would certainly contribute to our economy, provide jobs to our people and help meet the goal of increasing the RE in the power generation mix of 35 percent by 2030 and 50 percent by 2040.”
In response to the relaxation of foreign equity restrictions in the RE sector, GPCCI Executive Director Christopher Zimmer said in November 2022 that the RE sector has always been an interest for many German investors when they consider doing business in the Philippines.
