Palace: Solar technology firm sets $900-M investment in PH
WASHINGTON D.C., United States — Maxeon, a solar technology and innovation company, is looking to invest about $900 million in expanding its operations in the Philippines , Malacañang said Tuesday (Wednesday Manila time).
According to the Presidential Communications Office (PCO), the announcement came after officials of Maxeon met with President Ferdinand “Bongbong” Marcos Jr. and his delegation here.
Bill Mulligan, chief executive officer of Maxeon which operates the SunPower brand in all global markets and the Maxeon brand in the United States, Canada and Japan, said the investment will provide more than 3,000 jobs in the next few years.
“The Philippines has been incredibly important… it’s actually a strategic part of our company. And I want to thank you and 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,” he said, as quoted by the PCO.
Maxeon, which also has major manufacturing facilities in Malaysia and Mexico, has been operating in the Philippines since 2003 and opened its first factory at the Laguna Technopark in Biñan City in 2004.
The PCO said the company operates in the country under the name Sunpower Philippines Manufacturing Ltd and has seven projects in Biñan consisting of manufacturing, IT, and logistics ventures.
The Maxeon executive also said he is looking forward to continuing to expand the engagement with the Philippine government concerning the company’s operations.
Mulligan said they are starting the expansion of their research and development facility in Cavite, which will create about 2,000 engineering jobs in the area.
Maxeon has trained a local workforce of over 1,000 managers and solar engineers in the Philippines.
Marcos met with several business leaders on Tuesday in a series of meetings at the Blair House in a bid to attract more investments to the country.