Development Bank of the Philippines (DBP) has signed a loan agreement worth P1.8 billion with PetroWind Energy Inc. for the Nabas-2 Wind Power Project in the Visayas.
The 15-year term loan agreement will be used for a major infrastructure build-up that includes the installation of wind turbine generators, a temporary jetty, internal access roads, and a new substation and switching station.
Bankero, DBP President and CEO Michael O. de Jesus said the deal reaffirms the bank’s role and contribution in promoting inclusive growth and economic development.
Meanwhile, PetroWind Energy President Milagros V. Reyes expressed gratitude for the bank’s support since 2013.
“The success of our collaboration with them proves that public-private partnership built on the commitment to development ushers in long-term benefits to the environment, communities, and the country,” she added.
