The agreement represents a major step in the state-run bank’s clean development mechanism (CDM) activities, according to its president and chief executive officer Reynaldo G. David.
The three mini-hydropower plants are owned and operated by Romblon Electric Cooperative, the municipality of Loreto, Dinagat Island, and Bohol Electric Cooperative with the municipality of Sevilla.
The three projects are expected to prevent the emission of about 111,000 tonnes of CO2 during the first seven-year crediting period, the bank says.
DBP
