MaxeonMaxeon has announced plans to invest $900 million in solar energy in the Philippines as part of its expansion efforts in the country. The announcement was made following a meeting between Maxeon officials and President Ferdinand R. Marcos Jr. and his delegation in Washington DC.
The investment is expected to create over 3,000 jobs in the next few years, with the expansion of Maxeon's research and development (R&D) facility in Cavite providing around 2,000 engineering jobs in the area.
Bill Mulligan, CEO of Maxeon, expressed his company's confidence in the administration of President Marcos as the reason behind the expansion efforts. “The Philippines has been incredibly important… it's actually a strategic part of our company. And I want to thank you and I want to thank all of the government agencies for all of the help and the support for the 40-plus years that we've been in the country,” Mulligan said.
Maxeon has been operating in the Philippines since 2003, under the name of Sunpower Philippines Manufacturing Ltd. The company has trained a skilled local workforce of managers and solar engineers in the Philippines numbering more than 1,000. It operates seven projects in Biñan consisting of manufacturing, IT, and logistics activities.
President Marcos met with business leaders, including Maxeon officials, in a series of meetings at the Blair House on Tuesday afternoon in a bid to attract more investments to the country. Joining President Marcos in the meeting were former President and now Senior Deputy Speaker Gloria Macapagal-Arroyo, Speaker Martin Romualdez, Trade Secretary Alfredo E. Pascual, Finance Secretary Benjamin E. Diokno, Special Assistant to the President Secretary Antonio Ernesto Lagdameo Jr., Philippine Ambassador to the United States Jose Manuel G. Romualdez, and Trade Undersecretary Ceferino Rodolfo.
The Marcos administration has been pursuing measures and policies to ensure the availability of cheap and reliable energy through the promotion and utilization of renewable energy (RE) sources.
Maxeon's Mulligan said the company is looking forward to continuing to expand engagement with the Philippine government concerning its operations. “We're excited about continuing to expand our operations in the Philippines. It's an important market for us and we look forward to working with the government to advance solar energy in the country,” Mulligan added.
This investment from Maxeon is a positive development for the Philippines' renewable energy sector, with the potential to create thousands of new jobs and further drive the growth of the industry.
