Cofely to fund 5-8 energy efficiency projects

Energy services company (ESCO) Cofely GDF Suez said that they will be funding about five to eight energy efficiency projects in the Philippines every year in line with their $20-million loan with the Asian Development Bank (ADB) for funding energy savings projects of small-scale companies in Southeast Asian countries.

Eric Graef, regional director of Cofely, told reporters in the sidelines of ADB Workshop on Energy Efficiency Services for buildings that besides the ongoing $2-million Waterfront Hotel project in Cebu and the $1-million for Waterfront Manila Pavillion Hotel and Casino, they are eyeing various buildings, infrastructure and developers in the country to finance the energy efficiency initiatives.