Marcos Heralds Australian Firm’s Solar Initiative as a Boost for Jobs and Clean Energy in the Philippines

President Ferdinand “Bongbong” Marcos Jr. announced that a significant floating solar project by the Australian Macquarie Group is set to generate employment opportunities and foster cleaner industries within the Philippines. This statement was made during his engagement with executives from the Macquarie Group, highlighting the 1.3 GW floating solar endeavor planned for Laguna Lake as a key driver for sustainable job creation and industry innovation.

During the meeting in Melbourne, Australia, President Marcos emphasized the pivotal role of this project in aligning with the Philippines’ renewable energy ambitions. He noted that recent enhancements in the business environment, including the introduction of “green lanes” for expedited processes, are instrumental in attracting and supporting such renewable energy projects.

Shemara Wikramanayake, the managing director and CEO of Macquarie Group, expressed enthusiasm for exploring further investment opportunities in the Philippines, particularly in sectors such as digitization and energy transition. Wikramanayake’s interest is buoyed by the Philippines’ demographic advantages, including a young and growing population, which presents an attractive landscape for investments in infrastructure and other critical sectors.

President Marcos also lauded the firm’s commitment to investing in the Philippines, highlighting the importance of digital transformation for both investors and local communities. Acknowledging that the Philippines is playing catch-up in digitization, Marcos pointed out the crucial role of such technological advancements in improving the ease of doing business and facilitating interactions between the government and the public.

This collaboration between the Philippine government and the Macquarie Group marks a significant step towards enhancing the country’s renewable energy capabilities and economic development, promising a brighter, more sustainable future.