JAPANESE firm Marubeni Corp. is eyeing a renewable energy push in the Philippines with a comprehensive plan to invest in innovative and sustainable energy solutions, the Department of Trade and Industry (DTI) said.

Trade Secretary Alfredo Pascual met on Thursday with Marubeni senior executives from the company's Infrastructure, Global Planning, Next Generation Business Development, Finance, Leasing and Real Estate divisions in Tokyo, Japan.

"Beyond its existing ventures, Marubeni announced a comprehensive plan to invest in innovative and sustainable energy solutions across the country. This multifaceted initiative will focus on expanding power generation capacity, fostering grid modernization and integrating renewable energy sources," the DTI said.

Currently, the Japanese company is working on the smart grid and floating solar projects in New Clark City, and exploring offshore wind power projects in the country.

Marubeni also recognizes the importance of environmental stewardship and is spearheading a Joint Carbon Credit Program through afforestation, aiming to combat climate change and promote a healthier environment, the department said.

"The Philippine administration continues to seek ways to make the business environment in the Philippines more conducive for foreign investments. Our commitment to foster a conducive business ecosystem is evident in recent policy reforms, opening wider doors for foreign participation in key sectors," said Pascual.

The Japan-based company started operations in the Philippines in 1909 and has been taking part in the country's infrastructure development, including for a number of landmark projects.

Marubeni has also played a key role in the country's energy development through the San Roque Multipurpose Project, TeaM Energy Corp.'s thermal power plants, Shin Clark Power Holdings Inc.'s power distribution system, Ingrid Power Holdings Inc.'s diesel-fired plants and Isabel Diesel Fired Power Project's ancillary services.

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