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.

Local news

DISCLAIMER: Sun.Star website welcomes friendly debate, but comments posted on this site do not necessary reflect the views of the Sun.Star management and its affiliates. Sun.Star reserves the right to delete, reproduce or modify comments posted here without notice. Posts that are inappropriate will automatically be deleted.

Forum rules: Do not use obscenity. Some words have been banned. Stick to the topic. Do not veer away from the discussion. Be coherent and respectful. Do not shout or use CAPITAL LETTERS!
Holy Week 2014

FOREX: US$ 1.00 = PhP 44.420

Bangko Sentral ng Pilipinas

Philippine Lotto Results

Gamesort iconCombinations
6Digit7-2-0-8-1-6
Swertres Lotto 11AM8-9-8
Swertres Lotto 4PM4-5-2
Swertres Lotto 9PM6-0-7
EZ2 Lotto 9PM04-02

Today's front page

sunstar-bacolod-2014-04-16

Other front pages

Sun.Star Jobs
  • Sun.Star Zup!
  • Sunstar Multimedia
  • Filipino Abroad
  • Pacman blog
  • Habemus Papam
  • Calamity Report
  • Obituary
  • ePaper
  • Pnoy
  • goodearth
  • SunStar Celebrity
  • tell it to sunstar
  • Festivals
  • Sinulog
  • Philippine Polls
  • Technology