Countryside Investments Holdings Corp., a company wholly owned by businessman Leandro Antonio L. Leviste, said it will invest over P5 billion to help push the development of rural Batangas.
The program is part of the company’s commitment to foster sustainable development in the region in tandem with another Leviste company, Solar Philippines Power Project Holdings Inc.
This follows the recent SP New Energy Corp. (SPNEC) share sale to Meralco PowerGen Corp. (MGen) and other investors the proceeds from this transaction and other financing are set aside for development projects in Western Batangas where Countryside and affiliates have significant landholdings.
“The strategic focus of the investment is on sectors that promise high-impact benefits for the local economy, including energy, industrial and commercial projects,” the company said.
The initiative is designed to create job opportunities that address the urgent need for employment following the recent closure of the Central Azucarera Don Pedro sugar mill in Nasugbu, Batangas owned by Roxas Holdings Inc.
The closure is said to have affected the livelihood of over 13,000 farmers and sugar mill workers, making Countryside’s investments timely and critical for the region’s recovery.
Countryside looks forward to making more projects and working with communities in Batangas “to usher in a new era of sustainable development and shared prosperity.”
A flagship project of Solar Philippines in the region, the 63-megawatt Calatagan Solar Farm in Batangas is an example of the potential for renewable energy helping drive local development while promoting sustainability, the company said. This project, which began operations in February 2016 and now owned by SPNEC, marked the first of a series of developments that promise to bring long-term economic benefits to the community.
