DBP supports solar power project

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The Development Bank of the Philippines (DBP) has approved a 1.355 billion loan to Enfinity Philippines Renewable Resources, Inc. (EPRRI) for the refinancing of its 22.326 MW solar powered electricity generation project in the Clark Freeport Zone, Pampanga, North of Manila, Philippines.
The project is a joint venture of Mabalacat Solar Philippines Inc. and two Singapore-based firms, Sindicatum Renewable Energy Company, Pte Ltd. and Armstrong Asset Management. Successfully constructed and commissioned, and operational since March 10, 2016, the project is expected to generate approximately 32,000 MWH per year of ‘clean’ electricity.
Financing the proposed project will contribute to the national Government’s thrust of achieving energy independence through the development of renewable energy resources.
The project will augment energy supply in Luzon Grid by 22.362 MW, providing reliable and adequate electricity that will benefit the premier economic development zones in the country and surrounding communities.

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