BDO extends financing to solar projects

MANILA, Philippines - The Green Dot movement, a group of renewable energy advocates, has partnered with Sy-owned BDO Universal Bank for financing plans to make solar solutions more affordable to consumers, its top official said in a press conference last week.

Under the partnership, BDO would provide financing for viable undertakings for the sale of solar solutions, or the retail side or even to larger organizations.

“I do believe that climate change is there, it is inevitable. We need to adapt to it,” said BDO senior executive vice-president of institutional banking Walter Wassmer.

The partnership is part of the Green Dot movement’s efforts to promote solar energy in the Philippines, particularly in the urban areas.

The group is promoting the use of solar panels and solar solutions in urban areas in the Philippines including establishments, offices, government buildings, hospitals and primarily residential homes.

“We want to provide everyone a way to be involved through education, the best service and solar PV systems available so that they can help contribute to the fight against climate change,” said Helen Tong, chief operating officer (COO) of the Green Dot movement.

Tong said that everyone could contribute to the fight against climate change. She said that small steps could go a long way in helping save the environment or in creating a “green dot.”

Celebrity Chris Tiu, an entrepreneur, basketball player and TV host, said during the launch of the movement last month that one solar panel at a time translates to one green dot a time.  

This, he said, could help save the environment.

Tong said that solar power is a viable form of renewable energy and could increase the number of solar PV system owners to lessen the reliance on fossil fuel.

The group said whether or not one has a solar PV system, he or she could be part of the Green Dot movement.