PRESIDENT Rodrigo Duterte has signed a law granting a 25-year franchise to the Solar Para Sa Bayan Corporation (SPBC), a renewable energy distribution firm owned by the son of former senator and now Antique Representative Loren Legarda.
This was confirmed by Presidential Legislative Liaison Office Secretary Adelino Sitoy in a text message.
Sitoy said the President signed Republic Act (RA) 11357 titled "An Act Granting Solar Para sa Bayan Corporation a Franchise, etc." on Wednesday, July 31.
Palace has yet to release a copy of the newly-signed law.
On June 3, the Senate and the House of Representatives ratified the proposed measure granting a 25-year renewable energy distribution franchise to SPBC owned by 25-year-old Leandro Leviste.
Granting franchise to SPSB allows it to "construct, install, establish, operate, and maintain distributable power technologies and mini-grid systems throughout the Philippines to improve access to sustainable energy."
On June 26, business groups expressed opposition to the passage of the measure, saying that granting franchise to SPBC would only give it competitive edge over rival renewable-energy firms operating in the Philippines. (SunStar Philippines)