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Spanish RE company eyes entry into Philippines market
Spanish renewable energy developer Grupo Enhol is exploring investment opportunities in the Philippines for its Asia-Pacific expansion, focusing on clean power, energy storage, and related infrastructure.
The Board of Investments (BOI) confirmed potential expansion following an investment briefing with the firm's representatives, Spanish Ambassador Philippe Lhuillier, and officials from the Department of Energy, Global Capability Center Council Philippines, and the Bureau of Internal Revenue.
Discussions also covered investment opportunities in the Philippines' renewable energy value chain, shared services sector, and government facilitation services for foreign investors.
The BOI reaffirmed its commitment to providing whole-of-government support for strategic investments that advance the country's renewable energy goals and sustainability-driven industries.
This development follows the BOI's approval of P1.42 trillion worth of renewable energy projects from January to November, representing 73.96 percent of total approved investments during that period.
Investments approved by the BOI are eligible for incentives such as income tax holidays and preferential tax rates on gross income.
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