Manila, October 30 (Engineering Daily) -- On Thursday 25th, Willy Hick EU Project Manager for Cooperation Section announced that EU's Access to Sustainable Energy Program(ASEP) provides investment support for innovative energy solution in Philippine.
The ASEP comprises of three components: ▶21-million-euro investment support package for pro-poor and climate resilient innovative business solutions in the power sector, ▶ a 7-million-euro technical assistance, ▶ a 29-million-euro investment support through World Bank to provide 40,000 solar home system in Mindanao. In total, EU'S ASEP provides 57 million euros to help the Philippines promote sustainable and reliable energy and the program is operated until 2019.
For future interventions, Hick said the EU aims to promote “blending instrument". It is a combination of loans and grants as investment support.
EU has been urging stakeholders e.g. electric cooperatives and local communities to submit their proposals for the projects intended to help provide electricity to rural communities.
