This will involve the deployment of 70 MW of rooftop solar projects.
The Asian Development Bank (ADB) will be providing $12m in funding to support the deployment of rooftop solar panels for commercial and industrial consumers in the Philippines, in partnership with Buskowitz Solar, Inc.
In a statement, ADB said the funding can support the installation of 70 megawatts of solar power generation capacity in Bacolod, Bulacan, Laguna, Misamis Oriental, Pampanga, Pangasinan, and Zamboanga.
The projects can generate 88 gigawatt-hours of clean electricity annually and cut 54,000 tonnes of carbon dioxide equivalent emissions.
“As Asia and the Pacific accounts for more than half of global emissions, it’s imperative to scale up access to reliable and sustainable clean energy in this region. Rooftop solar energy provides an efficient way to deliver clean power directly to consumers, potentially reducing costs as well as avoiding transmission losses,” said ADB Director General for Private Sector Operations Suzanne Gaboury.
Aside from this, the finance package also includes a $24m parallel loan from the Philippine National Bank.
