The Development Bank of the Philippines (DBP) has approved a P1.355-billion loan to Enfinity Philippines Renewable Resources Inc. (EPRRI) for the refinancing of its 22.326 MW solar powered electricity generation project in the Clark Freeport Zone, Pampanga.
The project is a joint venture of Mabalacat Solar Philippines Inc. and two Singapore-based firms, Sindicatum Renewable Energy Company Pte. Ltd. and Armstrong Asset Management. Successfully constructed and commissioned, and operational since 10 March 2016, the project is expected to generate approximately 32,000 MWh/year of “clean” electricity.
Financing the proposed project will contribute to the National Government’s thrust of achieving energy independence through the development of renewable energy resources.
The project will augment energy supply in the Luzon Grid by 22.362 MW, providing reliable and adequate electricity that will benefit the premier economic development zones in the country and the surrounding communities.