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29 March 2012

NEDA approved e-Trike and Agus VI Hydroelectric Power Plants

The NEDA Board approved on Thursday two energy projects amounting to P24.1 billion. These projects aim to promote sustainable transport, achieve energy efficiency and thus address market transformation in the sector.
The P21.5 billion Market Transformation through Introduction of Energy Efficient Electric Tricycle (e-Trike) Project will reduce fuel consumption of tricycles by 2.8 percent, equivalent to 560,926 oil barrels.
“The project will distribute 100,000 E-Trikes to tricycle operators on a lease-to-own arrangement, replacing their old gas-fed and two-stroke gasoline engine units. This way, we are also able to protect our environment,” Socioeconomic Planning Secretary and NEDA Board Vice Chair Cayetano W. Paderanga Jr. said.
During Phase I of the project, 20,000 e-Trikes will be distributed to operators in Metro Manila, Boracay, Puerto Princesa City, Cabanatuan City, and Davao City while 80,000 units will be provided to operators in yet to be determined municipalities/cities during Phase II. The project also aims to promote the establishment and development of new associated electric vehicle support industries such as battery leasing/recycling/disposal, motor supply chain, and charging stations. This Department of Energy (DOE)-proposed project will be financed through a P12.9 billion loan from Asian Development Bank (ADB), P4.3 billion loan and P43 million grant from the Clean Technology Fund (CTF), P860 million Clean Development Mechanism (CDM) facility and P3.397-billion government counterpart funding.
Another project approved by the NEDA Board is the P2.59-billion Agus VI Hydroelectric Power Plants (Units 1 and 2) Uprating Project. Power uprating means increasing the capacity of power plants to ensure availability of sufficient and stable supply of electricity.
“This power uprating project aims to address the power-supply gap in Mindanao to support large-scale industrial and power-intensive manufacturing industries in the region,” Paderanga said.
Through the project, the economic life of power plants will be extended for a minimum of 30 years and their rated capacity will be increased by 19 megawatts (MW), from 50 to 69 MW. This will likewise increase the dependable capacity of the power plants from 27 to 39 MW. Funding for this project will be sourced from the budget of the Power Sector Assets and Liabilities Management (PSALM).
The NEDA Board is the governing body that sets major development policy directions for the Philippines while the NEDA Secretariat serves as its research and technical support arm. President Benigno S. Aquino III is chair of the Board while Paderanga serves as Vice Chair. The NEDA Board members are: the Secretaries of Agriculture, Budget and Management, Energy, Environment and Natural Resources, Finance, Public Works and Highways, Science and Technology, Tourism, Trade and Industry, Transportation and Communications, and Presidential Management Staff; the Deputy Governor of Bangko Sentral ng Pilipinas; the Chairpersons of  Housing and Urban Development Coordinating Council, Metro Manila Development Authority, and Mindanao Development Authority; the Governor of the Autonomous Region for Muslim Mindanao (ARMM); and the President of Union of Local Authorities of the Philippines (ULAP).

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