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ADB Invests $20M in Pioneering Template Energy Efficiency Projects
Source: http://ph.news.yahoo.com
Source Date: Wednesday, October 30, 2013
Focus: Electronic and Mobile Government
Created: Nov 05, 2013

Hospitals, hotels, shopping malls, and many other businesses in Southeast Asian countries are expected to adopt cost-effective, energy-saving solutions once positive results are demonstrated through pioneering energy efficiency projects funded by the Asian Development Bank (ADB).


ADB has signed a multi-currency loan worth $20 million for energy efficiency projects to be invested by Cofely Southeast Asia Pte. Ltd, a unit of France’s GDF Suez.


This innovative and flexible loan allows Cofely Southeast Asia to decide at each draw-down whether it needs Thai baht, Malaysian ringgit, or Philippine pesos in order to match the currency with the location of its energy efficiency investments, said ADB.


“The energy and infrastructure investment choices that Southeast Asian countries make today will have important implications for climate change in the region over the long term. Energy efficiency projects offer the most cost-effective and low-risk opportunities for climate change mitigation,” said Todd Freeland, Director General of ADB’s Private Sector Operations Department.


Through the loan, ADB is supporting Cofely’s plan to invest in building, upgrading, and expanding energy efficiency infrastructure across the region. Investment in energy efficiency in Southeast Asia’s factories and other buildings is falling far short of the cost-effective potential.


Key hurdles to scaling up investment include a lack of awareness among business leaders and a lack of skilled experts and companies to help develop and manage energy efficiency projects.


Cofely addresses these barriers through a successful business model that has proven effective in the US, Europe, and a number of other markets. Its energy efficiency services approach comprises a full suite of services, including financing for the design and delivery of energy savings, as well as the subsequent measurement and verification of results.

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