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Solar firm Maxeon eyes $900-M investment in PH

WASHINGTON — Solar firm Maxeon is considering investing some $900 million in solar energy in the Philippines as part of its efforts to expand its operations.

President Ferdinand "Bongbong" Marcos Jr., who is in the United States capital for an official visit, met with officials of Maxeon in a bid to attract more investors for the country.

Maxeon Chief Executive Officer Bill Mulligan mentioned the confidence his company has on the Marcos administration as the reason behind his company's 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.

Mulligan said the investment would provide more than 3,000 jobs in the next few years.

He added that he is looking forward to continuing expanding the engagement with the Philippine government concerning the company’s operations. 

According to Mulligan, Maxeon is starting the expansion of its research and development (R&D) facility in Cavite, which can provide around 2,000 engineering jobs in the area.

Maxeon, which has major manufacturing facilities in Malaysia and Mexico, has been operating in the Philippines since 2003. It opened its first factory at the Laguna Technopark in Bin?an City in 2004. —KBK, GMA Integrated News