Italpinas plan cited among Asia’s top NextGen Clean Energy Projects
A new project by the designers and developers of this city’s first eco-friendly building has been cited as one of the top 10 clean energy projects that could reduce greenhouse gas emissions across Asia annually by nearly 1.1 million tons.
Italpinas Euroasian Design and Eco-Development Corporation’s new project was among those presented to investors at the CTI-PFAN Asia Forum for Clean Energy Financing (AFCEF-3) held February 22, 2013 at Singapore.
“We are very happy to be recognized among Asia’s elite clean energy projects for the next generation,” said Architect Romolo Valentino Nati, Italpinas president and chief executive officer, upon receiving the citation for Italpinas new project which officially finished fourth in the final ranking.
Over 100 financiers, clean energy experts and representatives of financial institutions from across Asia and overseas participated in the Forum. The meeting was organized by the Climate Technology Initiative’s Private Financing Advisory Network (CTI PFAN), a global multilateral initiative dedicated to connecting clean energy businesses with financing and “bridging the gap” between clean energy project developers and investors.
“By matching project developers from around the region with investors, this forum helps make projects happen and increases the flow of investment into developing clean energy markets in Asia” said Peter Storey, CTI PFAN Global Coordinator.
The projects showcased at the Forum, with a total aggregate investment value in excess of USD 297 million, included bio fuels, solar, biogas, waste to energy initiatives developed by entrepreneurs and companies from India, Thailand, Philippines, Cambodia, Bangladesh and Indonesia.
“Italpinas new project is the lone Philippine entry which made it to the finals and the top 10,” noted Jojo Leviste, Italpinas President.
“What is so exciting about the CTI PFAN program is that it is not about process, but instead is facilitating the implementation of real projects, having not only economic returns, but social and environmental benefits as well,” said Elmer Holt, CTI PFAN Manager.
CTI PFAN screens business plans, selects the most economically viable and environmentally beneficial projects, and provides multiple rounds of coaching and guidance before projects are presented to investors. CTI PFAN is now working on more than 164 clean energy projects across Asia, Africa and Latin America. Globally, CTI PFAN has raised over USD 432 million dollars of investment for clean energy spread over 38 projects.
For investors, AFCEF-3 was a great opportunity to access a select group of clean energy projects with high profit potential, verified environmental and development benefits, which are ready for investment. It also provided a unique networking forum for Asia’s clean energy entrepreneurs.
Nagaraja Rao, Regional Coordinator-AFCEF3, said “CTI PFAN is providing a vital link between investors and project developers and this forum is ideally tailored to creating deal flow for clean energy investors in Asia”.
“The key to a successful realization of this growth lies in the bankability of these projects that demonstrate the high quality investment potential due to their scalability and the dilution of risks. These are the kinds of projects that have been handpicked and coached for the AFCEF-3.
Singapore is proud to have established itself as Asia’s financial hub and thus a great location for financing platforms such as AFCEF-3”said the Chairman of SEAS, Mr. Edwin Khew.
AFCEF-3 is sponsored by the Climate Technology Initiative (CTI) and its Private Financing Advisory Network (CTI PFAN), the United States Agency for International Development (USAID), the Energy for All Program of the Asian Development Bank (ADB) and the International Center for Environmental Technology Transfer (ICETT) and is co-organized by the Dawn Consulting, Clean Energy Solutions International (CSI), PPL International, Economic Development Board of Singapore, the Sustainable Energy Association of Singapore (SEAS) and ReEx Capital Asia.
CTI PFAN is a multilateral, public-private partnership initiated by CTI in cooperation with the UN Framework Convention on Climate Change’s Expert Group on Technology Transfer.