The Development Bank of the Philippines (DBP) has signed an agreement with Tricorona Carbon Asset Management Pte Ltd. for the sale of certified emission reduction (CER) credits generated by three mini hydro power plants in the country, Malaya Business Insight has reported.
The three projects are: Cantingas hydro power plant owned and operated by the Romblon Electric Cooperative Inc.; Hinubasan power plant owned and operated by the municipality of Loreto, Dinagat Islands; and Sevilla power plant owned by the Bohol Electric Cooperative (BOHECO) I and the municipality of Sevilla.
DBP is currently working on the registration of the projects with the United Nations Framework Convention on Climate Change Clean Development Mechanism Executive Board, the newspaper reported.