Prime Infrastructure Capital Inc. will shell out some P55 billion to develop various projects that are meant to add value to its core business segments.
He said as much as P55 billion in equity has been identified to finance existing projects and those that are in the pipeline.Prime Infra said its energy portfolio has always been aligned with the national government’s objective of attaining energy independence and security, while reducing the country’s reliance on fossil fuels.
The company is also expanding its energy portfolio by investing heavily in renewables—solar, hydropower, waste-to-fuel and a gas-fired power plant in Iraq. “The commitment that was made vis-a-vis Terra Solar being P200 billion. Keep in mind that we fund our projects with project financing at the asset level,” said Lucci.