Philippines Small Scale Hydro Power Association seeks $1bn in investments

The Philippines Small Scale Hydro Power Association (PASSHydro) is seeking investments worth $1bn for the implementation of several projects in the country.

Implementation of the pending projects alone is expected to add 250MW capacity to the national grid.

PASSHydro special concerns director Knud Hedeager was quoted by The Philippine Star as saying that a major concern is securing the trust of banks to lend to renewable energy firms.

“The market happens to be on an upslope. The finance sector is eager to put in money but not take all the risks,” Hedeager said.

The association will hold a two-day Philippine Hydropower Summit 2013 starting 14 March 2013 to discuss various concerns with investors, regulators and developers regarding financing and permissions.

Meanwhile, the Philippines Department of Energy’s feed-in tariffs (FIT) scheme has come in for criticism from various developers citing that the first-come-first-serve method favors large firms.