Philippines Clean Energy Investor Forum 2010
Seven clean energy projects with the potential to reduce the country’s carbon emissions by more than 300,000 metric tons per year were presented to investors and financial institutions on June 21, 2010 at the Philippines Clean Energy Investor Forum.
More than 300 financiers, clean energy experts and representatives of financial institutions from the Philippines and across Asia participated in the Forum. ESave Transport Systems, Inc. won the day’s business plan competition with their plan to manufacture and distribute electric tricycles (e-Trike) while the runner-up was the 10 MW Inabasan Mini Hydropower Project by Ormin Power.
Projects participating in the business plan competition represented a total investment value of 157 million, and included:
•First Commercial Multi-feedstock Anaerobic Digester in Southeast Asia by Solutions Using Renewable Energy (SURE)
•18 MW Timbaban Hydropower Project by Oriental Energy and Power Generation Corp.
•10 MW Pangasinan W2E™ Gasification Facility by Greenergy Solutions
•Philippine Biodiesel Initiative by Ecolife
•Green Building by Italpinas
This is the second Philippines Clean Energy Investor Forum and builds on the success of the first forum held in Manila in June 2009. Of the six finalists at last year’s forum, two have secured financing including a US$30-million biomass power plant that will help Aklan Province achieve electricity self-sufficiency and a biomass power plant in La Union Province that will use locally sourced rice hulls and wood chips to mitigate 3,000 metric tons of CO2 per year.
The Forum was covered in Philippine major dailies and online news websites, including:
•Manila Standard $157 million worth of clean energy projects offered
•Philippines Daily Inquirer: Group helps RP clean energy firms get funds
•Manila Bulletin: RE feed-in-tariff to range from P7-P25/kWh
•Business World: Financing tagged as key hurdle to ‘clean energy’ dev’t
•GMA News: Investors get a glimpse of clean energy projects
•ABS-CBN News: Local investors eye $157-M financing for green projects
•BioEnergy News: Philippines to become a leader in clean energy projects