Manila-based Alternergy Philippine Holdings Corp. is seeking $630,000 worth of technical assistance from the Asian Development Bank (ADB) to build three wind power projects in Luzon, the largest island to the north.
The requested aid would partly finance the first phase of the preparatory work for the wind projects in Laguna, Mindoro and Rizal, according to documents from ADB.
ADB’s technical assistance would also produce site-specific feasibility studies including wind assessment for each of the three proposed sites, and determine the commercial viability of the projects.
“The impact of the technical assistance will be improved energy security resulting from increasing use of renewable energy to meet the country’s energy requirements,” the ADB document says.
ADB adds that the use of renewable energy can help the Philippines mitigate greenhouse gas emissions and ensure continued economic growth in a sustainable manner.
The bank is expected to grant approval for the assistance in August.
Alternergy had already discussed the proposed wind projects with the Philippine Department of energy and Department of Environment and Natural Resources.