IFC, First Balfour to study viability of EV system in Batangas ecozone

The International Finance Corp. (IFC), a member of the World Bank Group, on Monday said it has agreed to assist First Balfour Inc. to conduct assessments and viability studies to develop an electric vehicle (EV) system in the First Philippine Industrial Park (FPIP).

According to IFC, the studies will also include renewable energy-powered charging infrastructure in the FPIP — a joint venture between First Balfour’s parent firm First Philippine Holdings Corp. (FPH) and Sumitomo Corp. — located south of Metro Manila.

Housed in Batangas, the ecozone has over 500 hectares with more than 140 locators employing some 70,000 workers.

“(D)eveloping an efficient and thriving e-mobility ecosystem is crucial for the Philippines to meet its climate commitments,” IFC country manager for the Philippines Jean-Marc Arbogast said in an emailed statement.

“The project will also help diversify FPIP and First Balfour’s infrastructure services and hopefully bring in new market players and spur the evolution of the local electric vehicle segment in the country,” he added.

First Balfour, a wholly-owned subsidiary of FPH, is involved in engineering and construction services for projects in renewable power and energy, transport and water infrastructure, and high-value buildings.

“Aligning with our mission towards decarbonization, we are actively exploring opportunities in the electric vehicle space to be able to provide an integrated infrastructure and services to our customers, such as FPIP,” First Balfour president and chief operating officer Anthony Fernandez said.

“In this context, IFC’s expertise will help us develop highly relevant market solutions that will ultimately help us to contribute to our country’s resilient future,” he added.

The Department of Transportation (DOTr) last month said it is working on guidelines that will indicate the government’s targets on public transportation regarding the shift to electric vehicles, both in terms of timeframe and percentage to the total units.

For its part, the government targets to have 50% of its fleet to be electric vehicles by 2040 as indicated by the Comprehensive Roadmap for the Electric Vehicle Industry (CREVI) released by the Department of Energy (DOE). —Jon Viktor D. Cabuenas/KBK, GMA Integrated News