Land Bank welcomes renewable energy projects-A A +A
Tuesday, December 20, 2011
THE Land Bank of the Philippines (LBP) said it will fund renewable energy projects like solar, wind, hydro and biomass.
Land Bank of the Philippines National Director Tommy de Leon told Sun.Star that the LBP, together with other government financing institutions, is mandated under the Renewable Energy Act to fund renewable energy projects.
“LBP would love to support renewable energy projects not only that we don’t want to further worsen climate change problems, and it is a cheaper and cleaner alternative to the government and our people, but also because having big loan portfolio in our vaults is always a liability,” de Leon said.
He said they are open “to residential, commercial, industrial, and recreational renewable energy-driven projects, and projects of all sizes and amounts.”
“They can come to us or through our local offices anytime and present their project proposals. As standard procedure, we will evaluate them according to their viability and capacity, and make a friendly payment scheme for them, and once done, the processing will be very fast,” de Leon assured.
De Leon also revealed that there are already several groups in Bacolod that are interested to apply for financing from LBP, including a known local hotel-resort in the city that intends to become a model in solar-powered energy system.
With de Leon was Negrense businessman Francisco Puey, also the Negros marketing-advocacy officer of German-Filipino company Green Power Philippines.
Puey, whose company promotes mainly German-engineered renewable energy technology systems, said that they are now in a process of working out financing partnership with LBP for their clients in Negros and the Visayas.
Puey told Sun.Star that Green Power Philippines has already received numerous applications for renewable energy projects, especially solar energy system, in Negros but many couldn’t do much yet because of their difficulty in putting up initial investment.
“With LBP announcements of its fund support for renewable projects, we are hopeful that more people, including the poor families and marginalized communities, could avail of our clean, cheap, and sustainable energy technology systems,” Puey said. (Karl G. Ombion)
Published in the Sun.Star Bacolod newspaper on December 20, 2011.