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| AboitizPower issues Asia’s first Climate Bond for renewable energy projects |
MANILA, PHILIPPINES – The Asian
Development Bank (ADB) has backed the issuance of AboitizPower’s Climate Bond,
which will be used to fund the company’s renewable energy generation projects.
The issuance will
finance the Tiwi-MakBan geothermal energy facilities
of AboitizPower subsidiary, AP Renewables Inc.; the 68-MW Manolo Fortich Hydro in
Bukidnon of Hedcor, another subsidiary; and the 8.5-MW Maris Canal Hydro of SN
AboitizPower (SNAP) and the National Irrigation Administration (NIA) in Isabela.
The projects are expected to produce renewable power by 2017.
AboitizPower is also studying potential hydro and geothermal
projects in Central Luzon and in Mindanao, particularly in Mt. Apo.
AboitizPower availed itself of ADB’s credit enhancement facility in the
form of a P10.7-billion (US$225 million) local currency bond and P1.8 billion
(US$37.7 million) direct loan.
The Climate Bond issuance is part of
AboitizPower’s goal to increase investments in renewable energy.
The Climate Bond, which has been certified by the Climate Bonds
Initiative, is the first in Asia and the Pacific and the first ever Climate
Bond for a single project in an emerging market. Climate bonds or green bonds
are used to fund projects that have positive environmental benefits.
“We are committed to support the energy needs of the country,
and in building renewable energy resources through our brand, Cleanergy,” said
Liza Montelibano, First Vice President and Chief Financial Officer of
AboitizPower.
AboitizPower's Cleanergy portfolio is composed
of 29 hydro and geothermal power generation facilities with a total of 915
megawatts attributable net sellable capacity.
The Cleanergy portfolio will increase once the Negros Occidental
Solar Energy Project of San Carlos Sun Power, Inc., a joint venture of APRI and
SunEdison Philippines Helios BV, begins supplying 59 megawatts at peak to the Negros grid
this month.
AboitizPower also invested in hydro and geothermal plant projects
in Indonesia. ###
About Aboitiz Power Corporation
AboitizPower is the holding company for the Aboitiz Group’s
investments in power generation, distribution, and retail electricity services.
The company is one of the largest power producers in the
Philippines with a right-mix portfolio of assets located across the country. It
is a major producer of Cleanergy, its brand for clean and renewable energy with
several hydroelectric and geothermal power generation facilities. It also has
various fossil-fired power plants in its generation portfolio to support the
baseload and peak energy demands of the country.
The company also owns distribution
utilities that operate in high-growth areas in Luzon, Visayas and Mindanao,
including the second and third largest private utilities in the country.
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