Davao City – Ayala-owned bank of the Philippine Islands (BPI), one of the country’s largest universal banks, sponsored the staging of the first Mindanao energy efficiency (EE) forum held in Marco Polo Hotel Davao recently.
One of its clients under its Sustainable Energy Finance program, Italpinas European Design and Eco-Development Corp., presented its EE case for the real estate industry. In an interview, Italpinas Chairman Arch. Romolo Valentino Nati said there is a need to correct misimpression that green design or initiative is costly.
Funded through a loan with BPI, Italpinas has built an eco-friendly mix-use building in Cagayan de Oro City.
“The mix-use building offers the same price range with other buildings in the market. The building design provides natural ventilation and temperature control inside the building. Use of air-condition units is 60 percent of the total power consumption and with green designs the consumption of energy can be reduced,” shared Nati.
BPI provides funding for EE and renewable-energy projects for companies interested in pursuing green initiatives, and the savings they generate from energy consumption are used to pay for the loan.
“Energy efficiency is the most reliable and cheapest means to contribute to achieving energy security. Power shortages are prevalents in the country and energy cost is increasing. The benefits of EE projects are immediate than building a new power plant, which will take two or three years to operate,” said BPI Sustainable Energy Finance Head Nanette Biason.
Featured on BusinessMirror, 6 August 2013