In an effort to “future-proof CEZA”, the Cagayan Economic Zone Authority (CEZA) inked a Memorandum of Understanding (MOU) with Guangxi SPIC Overseas (Singapore) Pte. Ltd. (SPIC) on March 20, 2024 at the CEZA NCR Office for the development of a 5-MW Solar Power Project.
This undertaking intends to provide an alternative source of power in the area that will not only supplement the existing power capacity in the area, but will also offer a greener option. A 5-MW solar plant can power-up about 4,000-5,000 households. Significantly, making available solar power source in the Cagayan Freeport is one of the steps in “future-proofing CEZA”, which is the operational phrase to describe the sustainable development vision for the Cagayan Special Economic Zone and Freeport (CSEZFP) of Sec. Katrina Ponce Enrile, CEZA Administrator and CEO.
The MOU, which was signed by no other than Sec. Enrile herself in behalf of CEZA, and Mr. Zhu Jun, SPIC General Representative, marked the commencement of the intended endeavor of both parties that would initially involve technical studies as baseline for the preparation of a project proposal. The partnership of both parties in this endeavor can surely leverage success. On one hand, SPIC is one of the leading companies in the ASEAN Region that is primarily engaged in the provision of cleaner energy to several countries in the world. The company also holds multiple operation licenses for all types of power generation such as thermal power, hydropower, wind power, photovoltaic power and nuclear power. On the other hand, CEZA is set to become a modern, efficient and effective freeport zone with its strategic location that is suitable and convenient for investors and locators and with a significant role to play in the national development.
The 5-MW solar development project is among the projects that will be undertaken by CEZA towards a green CSEZFP. On a wider scale, with Sec. Enrile’s leadership, harmonious engagements with both domestic and foreign business partners, and firm policy on sustainable development, the Cagayan Freeport is undoubtedly set to become the leading economic zone in Asia. #InvestWithCEZA
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