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DEVELOPMENT BANK OF THE PHILIPPINES New & Renewable Energy Financing Program (NREFP)

DEVELOPMENT BANK OF THE PHILIPPINES New & Renewable Energy Financing Program (NREFP). PRIMARY OBJECTIVE. To provide financial support to project developers and end-users pursuing government’s rural electrification and socio-economic development programs

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DEVELOPMENT BANK OF THE PHILIPPINES New & Renewable Energy Financing Program (NREFP)

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  1. DEVELOPMENT BANK OF THE PHILIPPINESNew & Renewable Energy Financing Program (NREFP)

  2. PRIMARY OBJECTIVE To provide financial support to project developers and end-users pursuing government’s rural electrification and socio-economic development programs via the use of alternativeenvironmentfriendly technologies in power generation

  3. How to apply for a New and Renewable Energy Project (NREP) at DBP?

  4. TECHNOLOGIES COVERED BY NREFP Wind Solar Solar PV for Telecoms Hydro Biomass

  5. COMMON LOAN CONDITIONS FUND SOURCES Applicable ODA funds such as EISCP II, JEXIM IV, KFW-IPCLP DBP funds for projects/project components which cannot be accommodated under existing ODA funds LOAN TERM Allowable repayment term of the fund source.

  6. COMMON LOAN CONDITIONS INTEREST RATE DBP Funds: Prevailing interest rate with the gross receipt tax (GRT) for the account of the borrower ODA Funds: Applicable interest rate depending on fund source APPLICATION FEE One half of 1% of loan amount (minimum PhP5000)

  7. COMMON LOAN CONDITIONS COLLATERAL REQUIREMENTS The loan shall be fully secured by assets acquired out of the loan proceeds and other applicable securities specific to the projects such as but not limited to: Real estate mortgage Chattel mortgage Loan guarantee Internal revenue allotment (IRA) for LGUs Assignment of Power Purchase Agreement (PPA) Assignment of insurance cover Assignment of suppliers buy-back guarantee Joint & several signatures (JSS) of principal stockholders in case of corporation and key officers for cooperatives and NGOs

  8. COMMON LOAN CONDITIONS EQUITY DBP shall finance up to a maximum of 75% of total project cost. The remaining 25% shall be the borrowers’ equity. Depending on total project cost, syndicated loans shall be considered.

  9. ELIGIBILITY REQUIREMENTS Eligible borrowers include duly-registered entities authorized to undertake the project with at least 60% Filipino ownership with an exclusive or non-exclusive reconnaissance permit granted by the Department of Energy such as but not limited to: Singe proprietorships (registered with DTI) Partnerships/corporations/NGOs (registered by the SEC) Cooperatives (registered with NEA/CDA) Local government units (LGUs)

  10. For more info and a detailed checklist of requirements, contact us at Tel. no. 893-9745/818-9511 Fax no. 893-5380 E-mail:ecmendoza@finesse-dbp.com or visit our website at www.finesse-dbp.com

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