Philippine Financing Facility to Support Private Sector Participation to RE Development
From NAMA Database
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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
|
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:
- 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.
- 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).
- RE Support Mechanism: The Renewable Energy Investment Coordination Center (REICC) will be founded to provide a one-stop-shop for all stakeholders and investors.
- Project Monitoring and Evaluation
Impact and MRV
|
| 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
