Monday, June 25, 2018

Philippines: EDC to Use Green Bond to Optimize Output of Geothermal Power Plants

IFC launches first green bonds in Philippines (Philippine Star)

International Finance Corp. (IFC), the investment arm of the World Bank Group for the private sector, has launched the Mabuhay Bond – the first peso-denominated green bond in the Philippines – to bankroll the optimization program of Lopez-led Energy Development Corp. (EDC).

IFC will use proceeds of the bond to finance EDC’s capital expenditure program, which is focused on optimizing the generation output of its geothermal power plants and improving resiliency to climate impacts.