Japanese electronics manufacturer MinebeaMitsumi Inc. aims to cut its power cost by an initial 8 percent starting 2024 as it installs its first solar power farm with 12.8 gigawatt-hour capacity.
“We believe that our solar farm which is generating part of our power consumption contributes to the reduction of brown energy consumption which is exactly in the same direction the Philippine government wants to achieve,” he said in a briefing Thursday. The Danao facility started operating in September 2023 with an initial 300 workers. The company plans to double the capacity of the Naga, Cebu plant to 3,000 in 2024 from 1,800, while the Batangas and Bataan facilities support 1,000 and 3,000 employees, respectively.
Under BOI MC 2023-006, self-financed EEPs like that of MinebeaMitsui’s are entitled to income tax holiday incentive and duty exemption on importation of capital equipment, raw materials, spare parts or accessories.
Source: Tech Daily Report (techdailyreport.net)
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