The Philippine National Oil Company (PNOC) and LBP Resources and Development Corporation (LBRDC) officially entered into a strategic partnership with the signing of a Memorandum of Understanding (MOU) on April 30, 2024.
The signing ceremony at PNOC Corporate Center marked the beginning of a collaborative effort between the two government agencies to advance renewable energy solutions in the Philippines.
President and CEO Oliver B. Butalid of PNOC welcomed LBRDC President and CEO Col Ricardo C Juliano, along with key LBRDC officers Administrator Rustica P. Locsin, Atty. Yasmin P. Rasuman, and Engr. Jobert B. Barce, who served as witnesses to the event.
The partnership’s initial focus is to facilitate the installation of rooftop solar photovoltaic (PV) systems at LBRDC premises and other potential locators. This collaborative effort will involve sharing of technical expertise and pooling of resources to develop sustainable solar initiatives.
President Butalid emphasized the importance of an own-use model for rooftop solar systems, highlighting their ability to efficiently meet the energy needs of consumers while contributing to broader societal goals. President Juliano expressed optimism regarding the potential effect saying, “Lowering the energy costs within the economic zone could have the potential effect of making it more attractive to investors by reducing overall operating expenses.”
This initiative is in line with PNOC’s 3-Arrow Strategy, which aims to position the company as a service agency to government entities, providing innovative energy solutions to meet national development goals.
The MOU represents the first step towards a formal contract or Memorandum of Agreement (MOA), with a three-month projected timeline for conducting further studies on suitable installation sites and structural assessments. Upon completion of the MOA, procurement and installation activities will commence, to replicate successful initiatives in additional government facilities.