Philippines:

‘Green’ Finance Firms Plan to Invest in 40 MW Mindoro Geothermal Plant (Business Mirror)

Pro-Environment financing companies have expressed their intention to invest in the $185-million geothermal facility of local renewable-energy firm Emerging Power Inc. (EPI) in Oriental Mindoro following President Aquino’s call for more investments in the RE sector to address the country’s power shortage.

EPI Chairman Martin Antonio G. Zamora said Mekong Brahmaputra Clean Development Fund (MBCDF), under management of the Dragon Capital Group, and the Netherlands Development Finance Co. (FMO) are advocates of sustainable-development projects.

He said 30 percent of the total investment would be direct equity and 70- percent debt financing sourced from Philippine banks.

In line with this, Dragon Capital’s MBCDF and FMO are looking to invest around 15 percent in equity.

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