DOE Secretary Angelo Reyes announced that his department will be giving incentives to investors in environment-friendly renewable energy projects like biomass, solar and wind energy, bio-ethanol and fuel cell plant in the form of income tax holiday for six years and low tariffs.
They will also give non-fiscal incentives to pioneering projects in compressed natural gas (CNG) or the natural gas vehicle program for public transport and energy-related projects.
In line with this announcement was the information that tax benefits were given to Euro-Med Laboratories for their P1. 324-billion fuel cell plant in Dasmariñas, Cavite.
I wonder who their buyers will be for their fuel cells? With the high price of gas and the threat of global warming, it’s nice to see that Philippine companies are putting their efforts into tapping the the lucrative world market for energy which is either renewable or more energy efficient.
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Category: Fuel Cell, Clean Energy
