First Balfour, a prominent engineering and construction company in the Philippines, has partnered with the International Finance Corp (IFC) to accelerate efforts in decarbonizing the transport sector and supporting the country’s climate goals.
As part of the collaboration, IFC will assist First Balfour in conducting assessments and viability studies to develop a robust electric vehicle (EV) system in the First Philippine Industrial Park (FPIP). This system will include charging infrastructure powered entirely by renewable energy sources.
The aim of the project is to create a more efficient and inclusive transportation system within and outside the industrial park, benefiting locators, transport service providers, and nearby communities. FPIP, spanning 500 hectares and located 50 kilometers from Manila, is one of the largest industrial parks in the Philippines, with over 140 locators and 70,000 employees.
FPIP is a joint venture between First Philippine Holdings (FPH) conglomerate and Japanese conglomerate Sumitomo Corp. First Balfour, a wholly owned subsidiary of FPH, has been involved in the development of FPIP’s infrastructure.
“We are actively exploring opportunities in the electric vehicle space to provide integrated infrastructure and services to our customers, such as FPIP. IFC’s expertise will help us develop market solutions that contribute to our country’s resilient future,” said Anthony Fernandez, President and COO of First Balfour.
In the Philippines, more businesses are considering EV adoption to reduce their environmental impact. However, technical expertise in this field is limited, especially for large-scale projects. “Electric vehicles are critical in the fight against climate change, and developing an efficient e-mobility ecosystem is crucial for the Philippines to meet its climate commitments,” said Jean-Marc Arbogast, IFC Country Manager for the Philippines.
The transport sector is the largest source of air pollution and energy-related greenhouse gas emissions in the Philippines. With the Electric Vehicle Industry Development Act, EVs can help the country achieve its target of reducing greenhouse gas emissions by 75% of the baseline by 2030.
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