Access to Sustainable Energy Project (WB-P153268)

Countries
  • Philippines
Where the impacts of the investment may be experienced.
Financial Institutions
  • World Bank (WB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Apr 28, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Department of Energy
The holder of the loan, grant, or other investment.
Sectors
  • Construction
  • Energy
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Fund
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 23.24 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 23.24 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ WB website

Updated in EWS Jul 27, 2017

Disclosed by Bank Dec 21, 2015


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Project Description
This project finance to increase household access to solar powered electricity within select electric cooperative service areas. The project components include rural electrification via solar home systems (SHS) of an estimated 40,500 households within the coverage areas of the participating ECs. Rural Network Solar (RNS) aims to increase renewable energy production via small, grid connected solar power plants. It is expected that 14 MW of new renewable energy generation capacity will be brought on-line as a result of the project interventions. A capital subsidy buy-down based on a least-cost, competitive approach is expected to level the playing field for grid connected solar vis-à-vis higher polluting alternatives.
Investment Description
  • World Bank (WB)
European Union-World Bank Trust Fund Access to Sustainable Energy Project (ASEP)
Contact Information
World Bank Contact: Alan F. Townsend Title: Senior Energy Specialist Tel: 473-8654 Email: atownsend1@worldbank.org Contact: Roberto La Rocca Title: Energy Specialist Tel: 473-9776 Email: rlarocca@worldbank.org Borrower/Client/Recipient Name: Department of Energy Contact: Zenaida Monsada Title: Secretary Tel: (632) 840-1021 Email: nmonsada@doe.gov.ph Implementing Agencies Name: LGU Guarantee Corporation (LGUGC) Contact: Lydia Orial Title: CEO Tel: (63-2)750-4166 Email: dengorial@lgugc.com ACCOUNTABILITY MECHANISM OF WORLD BANK The World Bank Inspection Panel is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by a World Bank-financed project. If you submit a complaint to the Inspection Panel, they may investigate to assess whether the World Bank is following its own policies and procedures for preventing harm to people or the environment. You can contact the Inspection Panel or submit a complaint by emailing ipanel@worldbank.org. You can learn more about the Inspection Panel and how to file a complaint at: http://ewebapps.worldbank.org/apps/ip/Pages/Home.aspx.