Development Bank of the Philippines (DBP) president, Reynaldo David, said that they have entered into an agreement with three foreign companies for the possibility of exploring renewable energy projects in the Philippines.
DBP has already announced before that they have a P50 Billion fund for Renewable Energy(RE) funding with which developers can tap for loans.
The three companies are American firm Constellation Energy Corp and Canadian’s Foundation Markets, and Enerasia Renewable Corp.
Constellation Energy does exploration, development, utilization and commercialization of renewable-energy projects. Primarily in ocean, solar, wind, biomass, hydro and geothermal power. They have already applied with the Department of Energy(DOE) for the rights to develop wind power sites in Ilog in the province of Negros Occidental and in Pamplona in Negros Oriental.
Foundation Markets meanwhile is an investment bank and limited market dealer focused on assisting companies to raise private capital and go public. Sorta like what a Venture Capitalist does I’m assuming. Ever since the credit crunch, I think it’s not cool anymore to call yourself an “investment bank”
Filipino-Canadian firm, Enerasia Renewable, is an emerging developer of renewable energy opportunities in Asia.
[source]
Category: Misc, Clean Energy, Investing, Financing
