By Sheldeen Joy Talavera, Reporter
DESPITE the nascent stage of offshore wind projects in the Philippines, local banks are stepping up to finance these ventures that are aiming to deliver the first kilowatt-hour by 2028.
“We are keen on supporting offshore wind projects as there appears to be a good business case for their adoption in the Philippines. Our sense is that probably all the major local banks are seriously looking at financing this type of renewable energy technology,” Juan Paolo E. Colet, managing director of China Bank Capital Corp., told BusinessWorld.
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