IFC’s third transaction in rural power in the Philippines is located at Basilan Island. Under a new power supply agreement with the Coastal Power Development Corpora - tion, 185,000 people currently without electricity in the Mindanao region will gain access to electricity for the first time. The Coastal Power Development Corporation will supply 11.8 MW at a cost of PHP 11 per kilowatt-hour. The agreement was signed in August 2008.
DevCo, a multi-donor program affiliated with the Private Infrastructure Development Group and supported by the UK’s Department for International Development, the Dutch Ministry of Foreign Affairs, the Swedish International Development Agency and the Austrian Development Agency also supported the advisory work, in particular the technical and legal aspects.
|Source Institution||World Bank|
|Place of Publication||Pasig City|
|Original Publication Date|