The Asian Development Bank (ADB) and Buskowitz Solar Incorporation, a subsidiary of Buskowitz Energy Incorporation, have finalised a $12 million deal to support solar energy for commercial and industrial consumers in the Philippines.
Furthermore, the project aims to generate 88 GWh of clean electricity annually and reduce 54,000 tonnes of carbon equivalent emissions. The financing package includes a $12 million loan from ADB and a $24 million parallel loan from the Philippine National Bank.
The financing will be used for developing, constructing, and operating multiple solar panel systems on rooftops across provinces including Bacolod, Bulacan, Laguna, Misamis Oriental, Pampanga, Pangasinan, and Zamboanga as well as installing a total of 70 MW of solar power generation capacity.
