The Asian Development Bank (ADB) has committed to lend $4.22 billion to the Philippines for development and infrastructure programs and extend technical assistance valued at $9.3 million until 2019. The multilateral fund’s new country operations and business plan (COBP) for the Philippines is aimed at helping the country achieve more inclusive growth and address income…
Tag: project financing
RP Energy finalizing P30-B bank loans for Subic plant
Redondo Peninsula Energy Inc. (RP Energy) is looking to close a P30-billion loan from three local banks by December to put the construction of its 2×300 megawatt (MW) Subic coal-fired power plant in full swing, a company official said. “We’re in the thick of due diligence and loan agreement discussions with the lenders and our…
AC Energy secures additional funding for Lanao power plant
AC Energy Holdings Inc., the energy arm of Ayala Corp., and its partners have secured additional $200 million funding to construct the fourth unit of its 540-megawatt (MW) coal-fired power plant in Kauswagan, Lanao del Norte in Mindanao. Ayala Corp. disclosed yesterday GNPower Kauswagan Ltd. Co. “achieved financial close for the additional funding. GNPower Kauswagan…
First Metro bags awards for power deals
Two power projects finance deals of First Metro Investment Corp. (FMIC) bagged awards at the Triple A Asia Infrastructure Awards 2016 of the Hong Kong-based finance publication The Asset. The P42.15-billion project loan facility for San Buenaventura Power Ltd. Co. (SBPL) took the Best Power Deal award and the P31.97-billion project loan facility for Therma Visayas…
Banks financing more to RE projects
Philippine banks have become increasingly supportive of renewable energy (R.E.) financing, taking their cue from investors who funnel more funds into more sustainable power generation projects, energy and financial experts said at the Nordic Business Council Philippines forum. BDO Unibank, for one, has an exposure of about P33 billion to R.E. projects. The bank partnered with…
Winnergy Holdings Corp. 