Land Bank receives applications for Php16 billion worth of renewable energy projects

Applications totaling Php16 billion (US$331.84 million) for the financing of renewable energy projects have been filed with the Land Bank of the Philippines (LBP), media reports said. The bank said that the loan applications included funding a cassava ethanol plant, an integrated ethanol facility, a jatropha-based biofuel project, a hydropower project, a biomass facility, a biodigester plant, a power generation plant, a rice-husk fired biomass cogeneration plant, as well as geothermal projects. The applications have yet to be approved, bank officials said. (May 31, 2009)