THE Department of Energy (DOE) has endorsed the P2.5-billion integrated electric vehicle (EV) and EV charging station project of Century Peak Energy Corp. to the Board of Investments (BOI).
Under the project, 20,000 imported EVs and up to 5,000 EV charging stations will be deployed in the next five years.
“As part of continued efforts to help strengthen our EV sector, the DOE has also recently endorsed a project to the BOI. When completed, the project is expected to help contribute to the reduction of as much as 145.02 million liters of fuel. This is equivalent to at most a P7.99-billion reduction from fuel cost,” said Energy Secretary Alfonso G. Cusi, in his speech delivered during the 9th PH Electric Vehicle Summit.
The DOE said it looks forward to the launch of more projects that will accelerate the country’s shift to EV. “Again, our success depends on strong public-private collaboration, and I am confident that together, we could make this happen.”
The agency earlier halted the procurement of 100,000 EVs, which started prior to this administration. “I stopped this project because it is not feasible. However, we had no choice but to accept the 3,000 units that were already produced. And since there were still no takers, we ended up donating these units, despite the fact that we had to pay for them.”
Still, the agency continues to push for more energy-efficient vehicles. It also established a clear set of EV guidelines, including the development and operation of EVs and their charging infrastructures, and the operation of EV charging stations.
The DOE, he said, may certify and endorse to the Department of Trade and Industry–BOI any person or entity intending to invest in the EV charging station sector, so they may avail fiscal incentives, as provided under Executive Order 226.
“But to help prepare the path for more established EV charging networks, we would of course need support not only from investors, but from our local electric distribution utilities as well. Automotive firms, particularly those investing in cleaner mobility, are also significant partners in this endeavor. Innovation in the EV industry will help propel the transport sector forward,” said the energy chief.
“Policies and guidelines for all stakeholders must be in place to attract the necessary investments and effectively integrate EVs and EV charging stations in a robust and sustainable energy system.”
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