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BDO Strengthens its Commitment to Renewable Energy

by Mommy Ruby
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BDO Unibank Inc. (BDO) remains committed to a sustainable future as it continues to provide access to capital and funding requirements to clients’ significant projects to achieve their goals while preserving the environment. As a key contributor to help accelerate the Philippine economy, the Bank continues to engage and lend to eco-friendly companies to fuel long-term development and business success while protecting the planet.

Surallah Power Generation, Inc. produces renewable biomass energy through its biomass-fired power plant in South Cotabato. It started as a producer of veterinary products and animal feeds. When the company discovered that agricultural waste is best recycled into biomass energy to create a sustainable energy source, it recognized the need for a reliable banking partner who would provide financing as they ventured into the power plant business.  Surallah approached BDO, given its reputation as a country’s sustainable finance pioneer.  The partnership has been successful, and Surallah is now constructing its second biomass-fired power plant in Palawan.

“BDO is very supportive in our endeavor. The Bank provides technical advice on how to efficiently and effectively manage and operate the power plant. Our credit facilities, lease lines, and term loans are readily available and tailor-fit to our corporate requirements.” said Atty. Rio Balaba, spokesperson of Surallah.

Surallah’s power plant benefits various stakeholders.  Farmers, farmers’ cooperatives, and millers earn extra income by selling their agricultural waste, such as rice and corn husks, as raw materials for the biomass-fired power plant. Moreover, the residents and entrepreneurs can use more affordable electricity.

Biomass is a high-potential renewable energy source for the Philippines, given that 40% of the population is engaged in agriculture and the country has an abundance of organic agricultural waste.  BDO has the leading expertise for biomass energy financing, having funded the first biomass power plant in 2013 and with 15 biomass projects in its portfolio with an installed capacity of 164 watts. BDO continues to offer financial support to green companies and renewable energy projects to provide livelihood, uplift the lives of Filipinos, and contribute to the nation’s progress while transitioning to a low-carbon, environmentally responsible, and socially inclusive economy.  

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