Harbor Star to go into renewable energy business

Harbor Star Shipping Services Inc. on Wednesday revealed plans to take in foreign partners and enter the renewable energy business.

"We are talking to some renewable energy partners already who want to operate here," Harbor Star President Geronimo P. Bella Jr. told reporters on the sidelines of the company's annual stockholders' meeting in Makati City.

Bella noted the company is eyeing solar and hyrdo energy projects.

"That's the direction," he said, noting that other logistics companies have also invested in the energy sector.

Harbor Star is in talks with foreign companies – a German and a Chinese – but Bella declined to identify the prospective investor for fear that they may be poached by other well-established players in the energy sector.

He said he hopes a partnership will be established this year. — VDS, GMA News