MANILA, Philippines?Industrial giant Marubeni Corp. of Japan is eyeing additional investments in the country, particularly in the renewable energy sector, according to a company official.

Masumi Kakinoki, senior operating officer of Marubeni?s power projects and infrastructure division, said being an environment-conscious company, it would like to participate in the privatization of renewable energy projects.

?If we have another opportunity like the privatization of current assets held by the government, we may consider,? Kakinoki said.

Plans to participate in the bidding for the management of National Power Corp.?s independent power producer contracts are still under consideration since this is still a new concept, Kakinoki said.

Some of the IPPs to be auctioned off by the Power Sector Assets and Liabilities Management Corp. (PSALM) draw power from renewable energy sources. These include the 140-megawatt (MW) Casecnan, 70-MW Bakun and 95-MW San Roque hydropower plants.

As it is, Marubeni, through its 45-percent stake in MG Leasing (MGL) Corp., has begun engaging in local renewable energy projects. The remaining 55-percent interest is held by Sumitomo Mitsui Finance and Leasing Corp.

MGL was earlier reported to have entered into an agreement with Solutions Using Renewable Energy Inc. (SURE) for the creation of a corporate vehicle, SURE Eco Energy Philippines Inc. (SURE Eco). The vehicle will be used for renewable energy projects.

MGL said it planned to raise more than $3 million to construct and operate projects assigned to SURE Eco.