ADFIAP, in cooperation with the Japan International Cooperation Agency (JICA), the International Finance Corporation (IFC), and YONDEN Shikoku Electric Power Co., conducted a round table discussion on “Renewable Energy Program in the Philippines: Micro Hydro Plant (MHP)”, held on October 19, 2015 at the ADFIAP International Headquarters in Makati, Metro Manila, Philippines. The event was attended by 23 participants from the Manila-based ADFIAP members, ADFIAP Consulting (AC) Group, and other financial institutions.
The objective of the event is to encourage more participation from the financial sector on the implementation of the sustainable energy finance (SEF) program and the use of the Micro Hydro Power Plant (MHP) to provide sustainable energy that will improve the lives of those unserved and underserved sectors of the economy.
The resource person from the International Finance Corporation (IFC), Mr. Noel Verdote, discussed the IFC’s SEF projects in the Philippines and its benefits like savings on electricity, improve bottomline, enhance business competitiveness, promotion of good business practices that help mitigates climate change. He emphasized that the SEF is a global product with guarantee risked-sharing features with IFC and has been adopted by regional countries in Asia, South America, Europe and Africa. In addition, Mr. Verdote explained that the SEF program in the Philippines started in 2008 with four partner institutions–Bank of the Philippine Islands, Banco De Oro, China Bank, and the BPI Globe BanKo. As of June 2015, Mr. Verdote added that there were already 230 loans approved generating total loan volume of USD850 million. The total value of investments stands at USD2.26 billion, annual energy saved is equivalent to 171,441MWh, annual RE generated is at 3.79 Million MWh, and Annual GHG Reduction is about 2.21 MilliontCO2/year.
The other resource person, Mr. Ken Kuwahara of the Yonden Shikoku Electric Power Co., discussed their on-going MHP pilot project in a remote area in Puerta Galera, Mindoro, Southern Philippines that is expected to improve the lives of the people there once completed. Mr. Kuwahara also showed potential sites in the provinces of Marinduque and Quezon where the MHP could be implemented.
Ms. Yuki Kawada, Project Formulation Advisor, Economic Growth Section of the JICA Philippines was also present during the event.
For more details of the roundtable discussion, please email Ms. Sandy Lim at [email protected].