PH’s first lithium-iron-phosphate battery factory opens in New Clark City
The Philippines’ first manufacturing plant for lithium-iron-phosphate batteries is now open. The ceremonial switch-on, which was led by President Ferdinand Marcos, Jr., took place at the Filinvest Innovation Park in New Clark City on September 30, 2024.
According to palace media, the project is funded by Australian investment firm St Baker Energy, and it is part of the PhP86 billion investment commitments made during the ASEAN-Australia Special Summit in March.
As the first locator within the 9,450-hectare New Clark City, StB Giga is projected to generate approximately PhP5 billion annually upon reaching full capacity. The factory is expected to create around 2,500 jobs for local engineers, technicians, and administrative staff, based on a report from Radio Teleevision Malacañang.
StB Giga aims to produce two gigawatt-hours (GWh) of batteries annually by 2030, a capacity that could support approximately 18,000 electric vehicles (EVs) or nearly half a million home battery systems. This positions the Philippines as a significant player in Southeast Asia’s clean energy storage sector.
In addition to battery production, StB Giga plans to expand into the EV market, aligning with the government’s vision of developing a local EV industry and reducing reliance on imported fuels. Once operational at full capacity, the company is expected to invest around US$35 million in the Philippines.
-30-