Funding for the Asiga project, The Philippines

摘要

Asiga Green Energy Corporation (AGEC) has secured a Peso 900 million (US$ 20.14 million) loan from the Development Bank of the Philippines (DBP) to finance the construction of the 8 MW Asiga hydropower plant in Agusan del Norte, a province in the southernmost island of Mindanao. The state-owned bank announced on 14 March that it had recently signed a loan agreement with the Mindanao-based developer for the project in the town of Santiago, in line with its commitment to finance environmentally friendly power projects. The DBP added that the new plant is expected to help stabilize electricity supply in the administrative region of Caraga, as well as reduce CO_2 emissions by about 35 575 tonne/year. The new project is also expected to create about 300 jobs during the two-year construction period, as well as about 25 permanent posts after completion.