Electric Cooperative System Loss Reduction Project

Project Summary

The main objective of the proposed GEF Philippines Electric Cooperative System Loss Reduction Project is to achieve significant and sustained energy efficiency improvements in rural ECs in order to provide current and prospective viable EC customers with reliable and least-cost power supply over the long term. In this regard, the project would (i) develop and test financial and contractual mechanisms to support private sector investment, management and operation, and risk sharing to support system loss reduction measures in selected ECs; and (ii) support commercial lending to other qualified ECs for efficiency improvements. For (i), the project would pilot the use of investment management contracts (IMCs) to attract private investors to manage and operate selected ECs under long-term, performance-based contracts, and to mobilize private finance without recourse to the government. For those ECs that are yet unable to attract private investors, access to affordable term loans would be facilitated under (ii). Eligible subprojects will be selected based on their ability to generate positive financial returns to the Ecs. GEF financial involvement would be $12m, mostly as credit risk guarantees.

Project Details

GEF Project ID
1532
Project Type
Full-size Project
Status
Completed
Country
Philippines
Region
Focal Areas
Funding Source
GEF Trust Fund
Implementing Agencies
The World Bank
Executing Agencies
National Electrification Administration (NEA)
GEF Period:
GEF - 3
Approval Fiscal Year:
2003

Financials

Project Preparation Grant Amount
350,000 USD
GEF Project Grant
12,000,000 USD
Co-financing Total
50,300,000 USD
GEF Agency Fees
1,202,000 USD
Total Cost 62,650,000.00 USD

Project Timeline

Received by GEF
31 Oct 2001
Preparation Grant Approved
04 Feb 2002
Concept Approved
01 May 2003
Project Approved for Implementation
12 Apr 2004
Project closed
31 Dec 2013