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Philippine Financing Facility to Support Private Sector Participation to RE Development

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Philippines

Description

Overview
Sector Energy
Focus area Renewable energy (unspecified)
Type of action Project
Scope National
Stage Under development
Submitted to UNFCCC registry No
Start of initiative 2014
Financing and support details
Financing status Seeking financing
Total cost EUR 21.24 mln
Financing requested EUR 21.24 mln
Financing received to-date
(no data)
Principal source of financing Multilateral
Principal type of financing Grant
Capacity building required Unknown
Technology transfer required Unknown
Additional information
Proponent(s) Department of Energy (DOE), Climate Change Comissions
International funder(s) International NAMA Facility (proposed source)
Organization providing technical support
(no data)
Contact www.doe.gov.ph

mcmarasigan@doe.gov.ph (02) 840-2268

Objective:
  • To develop, implement and institutionalize support mechanisms to encourage private sector participation towards accelerated RE development;
  • To promote economic development in eco-towns through implementation of viable RE business model/s;
  • To provide alternative energy options for residential and academe sectors through market-based approach; and
  • To strengthen government planners/decision makers for legislative support to RE development.


Activities: (2014 - 2018)
The project consists of four main components:

  1. Capacity Assessment and Development: Including an assessment of the current state of renewable energy and the capacity of the sector, the review and redesign of polisies relating to renewable energy, and the formulation of a long term framework to support training and knowledge sharing.
  1. RE Financing Mechanism: A new financing program, called the Renewable Energy Construction Loan and Guarantee Fund (RECLGF), will be created. The RECLGF will provide a credit mechanism to finance RE investments, and is set to be implemented in the short term (1-3 years).
  1. RE Support Mechanism: The Renewable Energy Investment Coordination Center (REICC) will be founded to provide a one-stop-shop for all stakeholders and investors.
  1. Project Monitoring and Evaluation

Impact and MRV

No Data Available.png
Cumulative GHG reductions: No data available
Mitigative capacity:

No information has been provided on mitigative capacity

Co-benefits:

Social: Information has not been provided
Economic: Information has not been provided
Environmental: Information has not been provided

MRV Framework:
No MRV plan has been defined


References