Philippines: Cebu's largest solar-power plant gets P4.375-billion loan from DBP

Philippines: Cebu's largest solar-power plant gets P4.375-billion loan from
DBP

THE Development Bank of the Philippines (DBP) has granted a P4.375-billion
loan to First Toledo Solar Energy Corp. to partially finance the
construction of a 60-megawatt (MW) solar-power plant in Toledo City, Cebu.

The project is currently the largest solar farm the DBP has financed, and is
also the largest solar-power plant in Cebu Island.

The grant of the 15-year term loan facility is in line with DBP's thrust to
help the country achieve energy independence through the development of
renewable-energy resources.

The project will augment the energy supply in the Visayas grid by 48.96 MW.
It is expected to have a multiplier effect on the local economy by
stimulating business activities and, ultimately, improve the living
condition of the residents of Cebu province.

Located at Barangay Talavera, Toledo City in Cebu, the project will replace
more than 157,000 barrels of crude oil equivalent per year from alternative
thermal plants during operations. It is also expected to reduce about
38,000 tons of carbon- dioxide emissions.
The project is intended to qualify for the Feed-in- Tariff Program and is
already dispatching power to the Wholesale Electricity Spot Market.

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Ref:
http://www.businessmirror.com.ph/cebus-largest-solar-power-plant-gets-p4-375
-billion-loan-from-dbp/

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com