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.