DBP-funded mini-hydropower projects to get tech assistance

SEEDLinks, a private entity advocating the reduction of air pollution, has signed a memorandum of agreement (MOA) with the Development Bank of the Philippines for mini-hydropower projects.

Under the agreement, SEEDLinks will provide technical assistance to DBP-supported mini-hydropower projects (MHPP) to qualify under the clean development mechanism (CDM).

The MHPPs will earn additional revenue from the sale of "carbon credits" once qualified under the CDM. 

The DBP encourages innovative ways of producing renewable energy that also contributes to protecting the environment.

The MOA was signed by SEEDLinks president James Kho and DBP senior vice president Ma. Teresa Jesudason.

Representatives of local government units (LGUs) also signed separate MOAs with the DBP for the provision of technical assistance in CDM registration through the services of SEEDLinks.

CDM is an arrangement under the Kyoto Protocol allowing industrialized countries with a greenhouse gas reduction commitment (so-called Annex 1 countries) to invest in emission reducing projects in developing countries as an alternative to what is generally considered more costly emission reductions in their own countries.

The CDM is supervised by the CDM Executive Board and is under the guidance of the Conference of the Parties of the United Nations Framework Convention on Climate Change (UNFCCC).

A CDM project activity might involve, for example, a rural electrification project using solar panels or the installation of more energy efficient boilers.

The CDM is expected to generate investment in developing countries, especially from the private sector, and promote the transfer of environmentally-friendly technologies in that direction.