Mar 16, 2023

BDO Champions Renewable Energy Financing

Isabela Biomass Energy Corporation’s biomass plant generates power day and night

BDO Champions Renewable Energy Financing


BDO Unibank Inc. (BDO) reaffirms its commitment to sustainable development as it continues to support the growth and expansion of clients’ renewable energy projects which the Bank considers as a priority sector in financing. 


Isabela Biomass Energy Corporation’s biomass plant generates power day and night

 

BDO financed the first renewable energy biomass power plant of Isabela Biomass Energy Corporation (IBEC), a Filipino-owned corporation which uses rice mill waste to generate and supply electricity in the community through alternative sources of energy. The abundance of rice husk in Isabela allows IBEC to utilize renewable energy and produce clean fuel as a sustainable source of power for the country.  The company also provides livelihood to the locals by giving value to agricultural residues which include rice husks, coconut and corn waste, utilized as fuel sources to maintain the power plant’s operations.

 

BDO also funded IBEC’s succeeding expansion projects. This is aligned with the Bank’s commitment in transitioning to a low carbon economy by providing access to capital to contribute to the reduction and avoidance of greenhouse gas (GhG) emissions through renewable energy alternatives.

 

“It is financially challenging to expand our business without BDO’s funding. They continue to trust and accommodate us by providing assistance on our operational needs and lease lines. We are grateful to BDO for being supportive not only in our power generation companies but also in our agriculture trading and milling factories,” said Leoncio Tan, President of IBEC.

 

IBEC’s decade-long partnership with BDO continues with the Bank’s support in building a second biomass power plant, Cagayan Biomass Energy Corporation (CBEC). IBEC hopes to further increase its power plant capacity to be more self-sufficient in power generation using local resources while helping the local community with more affordable electricity.

 

Biomass is a high-potential renewable energy source for the Philippines given that 40% of the population is engaged in agriculture and the country has an abundance of organic agricultural waste.  BDO has the leading expertise for biomass energy financing, having funded the first biomass power plant in 2013 and with 15 biomass projects in its portfolio with a total installed capacity of 164 megawatts. This total installed capacity supplies 230,131 households with renewable energy, supports 170,915 farmers, and is equivalent to avoiding emissions of 103,451 passenger vehicles in a year.  

BDO continues to offer financial support to eco-friendly companies and renewable energy projects to create opportunities, uplift the lives of Filipinos and help drive national development while transitioning to a low-carbon, environmentally responsible, and socially inclusive economy.  

5 comments:

  1. Napakagandang offer neto para sa mga companies na in need ng financial support lalo netong nagdaan na Pandemic. Thank you BDO! đŸ«¶đŸ»

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  2. Thank you for helping always BDO.

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  3. Yes bdo is a good bank kaya worth it rin maginvest dito

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  4. The best talaga ang BDO. Ang dami ng natulungan at matutulungan pang mga Filipino. Mula noon hanggang ngayon hindi sila nagsasawang magbigay at maging mabuti sa mga kababayan natin

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  5. The best talaga Ang BDO! Thank you for always find ways for helping Filipino people ❤️

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