NEW CLARK CITY – Emphasizing its role in the national agenda to promote clean energy through private-public sector partnerships, President Ferdinand R. Marcos Jr. inaugurated the StB Giga Factory at Filinvest Innovation Park here on Sept. 30.
“This inauguration of the StB Giga Factory is a remarkable example of what happens when our national agenda of promoting clean energy intersects with a solid commitment from the private sector,” Marcos Jr. said.
“In fact, this development is among the pledges that we received during the Philippine Business Forum in Australia, Melbourne, last March in Canberra. Six months later, we are witnessing how this pledge has come into reality,” he noted.
“I cannot overstate the importance of this investment. Hence, the silly grin on my face. It sends this message to the world: The Philippines is now ready—to innovate, to lead, to become the go-to destination for high-tech, high-impact investments,” enthused the president.
The energy company is the first locator at the Filinvest Innovation Park found within the 9,450-ha New Clark City managed by the Bases Conversion and Development Authority.
The pioneering project promises around 2,500 job generation for local professionals and is estimated to pour around P5 billion into the economy annually once it reaches its full production capacity by 2030.
The batteries manufacturing plant in the Philippines will entice more investors to enter the country’s renewable energy (RE) landscape as it transitions to clean energy amid the threats posed by climate change, the president said, underscoring StB Giga Factory is the country’s first manufacturing plant of advanced lithium iron phosphate batteries.
“This facility runs in tandem with the Philippines’ renewable energy landscape, as we transition our country to renewable energy. Your products could help entice more investors in renewable energy facilities in the country,” said Marcos Jr. “The upstream and the downstream businesses that will come from this are just going to be tremendous.”
“We also welcome StB Giga’s plan to enter the EV product market in the coming years. This aligns with our plans to develop the country’s EV industry and produce locally-made EVs and EV components, reducing our reliance on imported fuels.”
While renewable energy sources and EVs were once seen as options, their adoption must be prioritized to mitigate the effects of climate change, the president pointed out.
He said every step towards sustainable energy development “is an investment in a brighter, healthier future for our children, for our country.”
President Marcos thanked the entire team behind the StB Giga Factory for taking the leap of faith with the Philippines, emphasizing that it has laid a foundation for a cleaner, greener, and a more prosperous Bagong Pilipinas. PCO-PR/Photos: BCDA Public Affairs
