Challenergy Inc. and NAREDCO Launches Joint Venture – Challernergy Philippine – Challenergy Inc., Tokyo, Japan (President & CEO: Atsushi Shimizu) and NAREDCO, Manila, Republic of the Philippines (Natures Renewable Energy Development Corporation, President and CEO：Paul Michael Robles) have signed a joint venture agreement.
Under this agreement, Challenergy Inc. will strengthen its sales force, cooperated with NAREDCO’s sales network and expertise in the renewable energy field. Consequently, we will be able to get involved more actively in the Philippine market. NAREDCO is a private company that has gained the experience through its Solar and Biomass Power Plants Projects in the Philippines.
The Philippines consists of over seven thousand islands, likewise Japan, and is expected to witness the economic growth in the near future. Challenergy Inc. considers the Philippines as a potential and crucial market since we believe the distribution of our product will eventually result in the solution to the Philippines’ energy-related issues.
The launch of the joint venture -tentatively named Challenergy Philippines- will be carried out by the end of January, in Manila, the Philippines. We will assure our further contribution in the energy shift of the Philippines on the basis of this agreement.