Philippine Business Bank: The Power to Make Positive Change
June 28, 2022
During the switch-on ceremony on June 28,2022, the partnership of CleanTech Global Renewables Inc. and SunAsia Energy Inc. have switched on a 20-megawatt peak (MWp) solar farm that will power up parts of Pangasinan with clean power.
Located in a 28-hectare property in Sta. Barbara in Pangasinan, One Manaoag Solar Corp., the partnership between Cleantech and SunAsia, has energized the 20-MWp solar power project after full-swing construction began last February.
According to Cleantech PCEO Salvador Antonio "Aboy" Castro, Jr. "The completion of this project will have the capacity to generate 32.5 gigawatt-hours (GWh) annually, displacing 19,500 more tons of CO2 emissions while powering around 16,000 households per year."
"This project will not be possible if not for our partnership with Philippine Business Bank," he added.
SunAsia Energy president Theresa "Tetchi" Capellan remarked: "Pangasinan is that part of the country that enjoys very high irradiation compared to the rest of the country so it made commercial sense to build a project in Pangasinan, particularly in Dagupan. This project will turn into kilowatt-hours and will turn into revenues for Cleantech."
She also said, "After two years into the pandemic, the energization of this project has finally happened. Thank you PBB for financing this project."
The right lender can be integral to the success of an energy-saving project. Securing financing from a bank with ESG financing priorities and knowledge of the environmental landscape can provide real advantages over the life of the loan.
"PBB is a financial institution that aspires to become carbon neutral, and we've financed two more solar energy-savings projects," PBB's Vice Chairman and PCEO Rolando R. Avante said. "We're proud to play a role in helping corporations reach their goals while improving the environment."
As more corporations concentrate on ESG issues and make sustained efforts to conserve energy, they can light the way to a brighter future for everyone.
PBB is proud to be part of this environmental revolution.
