| Asia
about the project. The meeting was an opportunity for stakeholders to express their opinions, suggestions, and concerns for the improvement of the project. The Hydro-floating Solar Hybrid Project at Ubol Ratana Dam is also equipped with a battery energy storage system (BESS) to enhance the stability of the power system with the generating capacity of 24MW. The project supports the growing economy in Khon Kaen Province and the region, and increases the proportion of electricity generation from renewable energy, driving Thailand toward carbon neutrality. Moreover, it reduces electricity import and utilizes the reservoir area for maximum benefit. The commercial operation date of the project will be within 2023.
Financing
In December, it was announced that the Land Bank of the Philippines (LANDBANK) and Cabanglasan Hydropower Corporation (CHC), a wholly-owned subsidiary of Repower Energy Development Corporation (REDC), signed a P2.6-billion loan agreement to partially finance the construction of a 15MW hydropower plant in the Province of Bukidnon, that will help advance the country’s climate change mitigation and adaptation efforts. Under the LANDBANK Renewable Energy Program, the run-of-river hydropower plant will be developed on the Pulangi River in Barangay Lumbayao, Valencia City, to sustainably improve the quality and reliability of energy supply in nearby cities and towns in the Province. The loan signing was led by LANDBANK President and CEO Cecilia C. Borromeo and Pure Energy Holdings Corporation and CHC Chairman Dexter Y. Tiu on 6 December 2022 at the LANDBANK Plaza in Manila. They were joined by REDC President and CHC Director Eric Peter Y. Roxas, CHC President Johnson A. Sanhi, Jr., and from LANDBANK, Senior Vice Presidents Celeste A. Burgos and Lucila E. Tesorero, among other Bank officers. “Through the years, LANDBANK has collaborated with REDC and its subsidiaries towards advancing clean, sustainable, and reliable sources of renewable energy. We actively support local projects that aim to secure a safe and sustainable future for the country, as part of our broader commitment to help build sustainable and resilient communities,” said President Borromeo.
Upon its completion in 2025, the hydropower plant is estimated to power around 130,000 households in 15 municipalities in the Province. The stable energy supply is likewise expected to benefit Bukidnon’s local economy, particularly its tourism, agriculture and industrial sectors. “In just six short years of development, our group
has brought 10 renewable energy power plants to operations – of which six are run-of-river hydropower, contributing around 50MW of clean energy to the grid. We have several hydropower projects under construction and in the pipeline, which we intend to bring to operations in the near future to help the country transition into a clean renewable, energy phase,” said REDC President Roxas. “We would like to extend our deepest gratitude
to the financial institutions who stood by us and provided project finance like LANDBANK, led by President Cecilia Borromeo, for their trust and
confidence in the Pure Energy-REDC Group time and again,” Roxas added.
In January, it was announced that the World Bank has approved $15 million in grant funding for a project to strengthen the financial, commercial, environmental and social frameworks at Tajikistan’s Rogun Dam. The grant financing will come from the International Development Association for the Technical Assistance for Financing Framework for Rogun Hydropower Project in Tajikistan (TA). The Rogun hydropower project, currently under construction, has the potential to generate significant economic, social, and environmental benefits for Tajikistan and other countries in the Central Asia region if it develops in a financially, environmentally, and socially sustainable manner, said the Bank. Once completed, Rogun will be critical in helping Tajikistan to meet its domestic energy demands, especially during wintertime, and to support neighboring countries through the export of surplus electricity. The IDA grant will finance the hiring of experts on dam safety and environmental and social (E&S) frameworks to help with necessary improvements that will bring the project in line with current hydropower industry requirements and align with the World Bank’s Environmental and Social Framework. The TA project will also be instrumental in increasing Rogun’s benefits to a larger number of people through a benefit- sharing mechanism whereby a portion of the project’s revenues would be channelled to various socio- economic programs and initiatives. “Our technical support aims to improve the Rogun
project’s development impact through greater sharing of the project’s revenues to benefit the people of Tajikistan, improvement of the project’s environmental and social performance, and expansion of clean electricity,” said Tatiana Proskuryakova, World Bank Country Director for Central Asia.“This support builds on our current investments in Tajikistan’s energy sector, which focus on improving electricity supply reliability for people and the economy, strengthening the governance of the sector, promoting financial sustainability, and increasing its transparency.” The TA project would also improve the readiness of the Rogun project to increase the financing required for its completion. In particular, it would help to update the financing plan to ensure that annual spending on the project does not create macro-fiscal risks for the country and that the HPP has a reliable commercial framework for sale of electricity to domestic consumers and for exports. ●
www.waterpowermagazine.com | February 2023 | 43
Above: Andritz received an order from CH Karnchang (Lao) Company Ltd to supply the electro-mechanical equipment to Luang Prabang hydropower plant in Lao People’s Democratic Republic
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