EU Invests $24 Million

EU Invests $24 Million for seven clean energy projects with the Philippines

Renewable Energy
EU Invests $24 Million to Promote Clean Energy in the Philippines

MANILA The European Union announced on Thursday that it had signed seven investment projects with the Philippines worth 21 million euros ($24 million) to promote access to clean energy to 40,000 households in the Southeast Asian archipelago and contribute to the countrys target of achieving 100 percent electrification by 2020.Also Read: Euro 3.8 bn Invest

Also Read: Investment tops $20 million

The projects were signed with different public and private companies as well as research centers and universities that will be responsible for developing them in remote parts of the country, the EU delegation in the Philippines said in a statement.

Four of the projects are located in different areas of the Mindanao region in southern Philippines, whose development has been hampered by decades of Muslim separatist conflict.

The EUs contribution to these development aid projects is part of the Access to Sustainable Energy Programme, which hopes to provide electricity to over 100,000 households by 2021.

The EU ambassador to the Philippines Franz Jessen said that the program seeks to extend the use of clean and renewable energy to remote communities to promote the use of new, more efficient energy strategies.

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