PNOC, LANDBANK UNIT EYE SOLAR ROOFTOPS

State-run firms Philippine National Oil Co. (PNOC) and LBP Resources and Development Corp. (LBRDC) are jointly looking into the development of solar rooftops within and outside LBDRC’s premises.

The two partners signed on Tuesday a memorandum of understanding that signals the beginning of their collaboration on the installation of rooftop solar photovoltaic (PV) systems at LBRDC premises and other potential locators of an economic zone in Caloocan City, which it administers.

“This collaborative effort will involve sharing of technical expertise and pooling of resources to develop sustainable solar initiatives,” PNOC said in a statement.

LBRDC, a subsidiary of Land Bank of the Philippines, is engaged in the construction, project management, brokering services, and real estate management and development.

PNOC president and CEO Oliver Butalid said the state firm is venturing into solar not only to attain energy efficiency, but to reduce the electricity expenses of government entities.

The government sector is “probably the biggest electricity consumer in the country and notwithstanding that it is the biggest electricity consumer it hasn’t benefited from all of the new technology,” Butalid said during the signing ceremony.

Ricardo Juliano, president and CEO of LBRDC, said that lowering electricity costs within the ecozone “could have the potential effect of making it more attractive to investors by reducing overall operating expenses.”

According to PNOC, the nonbinding accord marks the first step toward formalizing their deal, with a three-month projected timeline for conducting further studies on suitable installation sites and structural assessments.