News and Events

12.04.2004
The Philippines: Wind Power through Carbon Finance

MANILA, PHILIPPINES, December 9, 2004—The Philippines today took a major and innovative step into a new renewable energy era with the signing of the first greenhouse gas emission reductions purchase agreement (ERPA) for a wind farm project in the ASEAN region, under the Clean Development Mechanism (CDM) of the Kyoto Protocol. The wind farm project has a total cost of about US$35 million, with almost 90 percent funded by the Danish International Development Agency (DANIDA). The project is expected to be operational by mid 2005.
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