ADB and Buskowitz commit $12m to boost rooftop solar in the Philippines

This will involve the deployment of 70 MW of rooftop solar projects.

Thiswill involve the deployment of 70 MW of rooftop solar projects.

The Asian Development Bank (ADB) will be providing $12m in funding to support the deployment of rooftop solar panels for commercial and industrial consumers in thePhilippines,in partnership with Buskowitz Solar, Inc.

In a statement, ADB said the fundingcansupport the installation of 70 megawatts of solar power generation capacity in Bacolod, Bulacan, Laguna, Misamis Oriental, Pampanga, Pangasinan, and Zamboanga.

The projects can generate 88 gigawatt-hours of clean electricityannuallyand cut 54,000 tonnes of carbon dioxide equivalent emissions.

ALSO READ:New Zealand pledges $25m to supportADB'sEnergy Transition Mechanism

“As Asia and the Pacific accounts for more than half of global emissions,it’simperative to scale up access to reliable and sustainable clean energy in this region. Rooftop solar energy provides an efficient way to deliver clean power directly to consumers, potentially reducing costsas well asavoiding transmission losses,”said ADB Director General for Private Sector Operations Suzanne Gaboury.

Aside from this, the finance package also includes a $24m parallel loan from the Philippine National Bank.

Asian Development Bank

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