Philippines bank awards grant for 8-MW Asiga hydropower project

Philippines Map

The Development Bank of the Philippines (DBP) has agreed to a US$20 million loan to the Asiga Green Energy Corp. for the construction of a new small hydropower project in the country's northern region.

DBP said the hydroelectric plant will have an output capacity of about 8 MW and will help stabilize the energy supply around Caraga.

The project will create up to 300 jobs during its two-year construction period, the bank said, with another 25 permanent positions created once the facility is completed.

The Asiga plant is part of the Philippine government's efforts to increase the country's renewable portfolio. reported in February that its Department of Energy had awarded contracts for four small hydropower plants to be located in Negros Occidental, while a 200 MW pumped-storage hydropower plant was approved earlier this week.

For more project development news, visit here.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs