Subscribe to our free daily newsletters
  Solar Energy News  

Subscribe to our free daily newsletters

Philippines gets support for green agenda
by Daniel J. Graeber
Manila (UPI) Nov 6, 2015

disclaimer: image is for illustration purposes only

The Asian Development Bank said it signed a finance agreement to help support operations at the largest wind farm of its kind in the Philippines.

ADB, which has headquarters in Manila, signed a $20 million finance assistance agreement with an international consortium of banks and the local EDC Burgos Wind Power Corp. to help with the development of the company's 150 megawatt wind farm on the northern Philippines island of Luzon.

"The operation of this farm will avoid the production of over 200,000 tons of carbon dioxide equivalent emissions a year, making it a sustainable energy source for the country," Christopher Thieme, director of ADB's private sector operations department, said in a statement.

The government of the Philippines set a goal of installing about 2,870 MW of renewable energy capacity by 2030 and the ADB said the financial assistance would be a "shot in the arm" to tapping into the full estimated 250,000 MW of potential renewable energy available.

The Philippines aims to boost its renewable energy capacity in an effort to reduce its dependence on fossil fuels. In early 2015, the Organization of Petroleum Exporting Countries said the Philippines was among the regional economies expected to account for the bulk of the growth in new oil demand.

While the country already has a relatively robust renewable energy footprint in the form of hydropower and geothermal, coal use is expected to accelerate because of an increase in demand from its coal-fired power plants.

"This Burgos wind farm is a major contributor to the government's drive to scale up renewable energy use and to reduce its reliance on coal and petroleum for power generation," Thieme said.

Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.

SpaceDaily Contributor
$5 Billed Once

credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly

paypal only


Related Links
All About Solar Energy at

Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks DiggDigg RedditReddit GoogleGoogle

Previous Report
Researcher develops material to create sustainable energy source
Tallahassee FL (SPX) Nov 04, 2015
A Florida State University researcher has discovered an artificial material that mimics photosynthesis and potentially creates a sustainable energy source. In The Journal of Physical Chemistry, Assistant Professor of Chemical Engineering Jose L. Mendoza-Cortes details how this new material efficiently captures sunlight and then, how the energy can be used to break down water into oxygen (O ... read more

Vast energy value in human waste

Chesapeake Bay Seed Capital Fund invests $150,000 in Manta Biofuel

US Ethanol Producers Looking at Thin Profit Margins for 2015-16

Determining greenhouse gas reductions for varying forms of bioenergy

How sensorimotor intelligence may develop

Robot's influent speaking just to get attention from you

'Spring-mass' technology heralds the future of walking robots

Dive of the RoboBee

Scotland hosting new type of offshore wind program

E.ON finishes German wind farm

Adwen and IWES sign agreement for the testing of 8MW turbine

US has fallen behind in offshore wind power

Making cars of the future stronger, using less energy

Moody's downgrades VW as toll from emissions scandal grows

Nissan boosts annual outlook on new models, N.America sales

VW suspends sales of US diesel models; Moody's cuts rating

Tech-sharing key to success of climate summit: France

Japan's lofty 'hydrogen society' vision hampered by cost

China raises coal use figure by hundreds of millions of tonnes

Taiwan Unveils the Eco-Power Station

Chemical complexity promises improved structural alloys for next-gen nuclear energy

Bechtel Applauds Successful Licensing of Second Reactor at Watts Bar Nuclear Plant

Success in Selling Nuclear Energy Increases Russia's Political Influence

Areva says Chinese nuclear company could take stake under terms of draft deal

U.S., China lead in emissions, IEA finds

Up to 400 bn euros needed for clean EU energy grid by 2050: study

National contributions provide entry point for the low-carbon transformation

Climate pledges keep 'door open' to warming under 2C

Peru creates huge national park in Amazon basin

OECD warns Brazil on environment, economy risks

After 5,000 years, Britian's Fortingall Yew is turning female

Amazonian natives had little impact on land, new research finds

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement