Region: East Asia and Pacific
Sector: Energy and Power
Keywords: Knowledge Lab, Energy and Power, Rural Electrification
Brief on IFC's PPP advisory support to the government of Philippines to introduce private sector participation in power generation in off-grid areas covered by the Small Power Utilities Group. IFC's first and second transactions in rural power in Philippines were located in the islands of Marinduque, Romblon, Tablas and Masbate.
On four remote islands in the Philippines, small power projects are making a big difference in people’s lives. IFC helped the government attract private investment
in off-grid power generation, which will provide reliable and cheaper electricity to hundreds of thousands of people. The agreements were signed September 2005 and May 2007.
Two local companies won the contracts for 15-year supply agreements: DMCI Holdings and 3iPowerGen. Together the two companies are investing more than $55 million for new generation, while reducing generation costs more than 40 percent. The plants will add 38 MW of new power, replacing the existing erratic service with reliable, round-the-clock electricity and providing more than 460,000 people with power for the first time.
Updated: June 22, 2022