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Add to Preferred SourcesThe Philippines is a geothermal hotspot. Developing this natural resource will help meet the country’s growing demand for power with low-carbon energy and reduce fuel imports.
The Tiwi and MakBan Geothermal Power Green Bonds Project, the first green bond issue in the Philippines, is helping AP Renewables Inc. refinance its capital expenditure and ongoing operations and maintenance at Tiwi and Makiling-Banahaw, the 7th and 4th largest geothermal facilities in the world. Considered a landmark transaction, this new financing mechanism offers an alternative to bank financing and seeks to expand private sector interest in long-term investments for renewable energy development.
Original source: ADB
Published on 13 November 2017