A total of 27 electric cooperatives (ECs) applied for state-funded loans to finance their capital expenditures (CapEx), among other projects, by end of August 2024, the National Electrification Administration (NEA) has reported.
Latest data from the NEA Accounts Management and Guarantee Department (AMGD) showed that 22 ECs borrowed at least P780-million for their CapEx projects.
These power distribution utilities operate in the following provinces: Bataan, Bohol, Bukidnon, Camarines Sur, Capiz, Cebu, Iloilo, Leyte, Masbate, Northern Samar, Nueva Ecija, Romblon, South Cotabato, Surigao del Sur, Sulu, Tarlac and Zamboanga del Norte.
The NEA-AMGD also facilitated working capital loans worth P482-million distributed to at least seven ECs serving electricity consumers in Capiz, Camarines Sur, Camotes Island, Davao del Norte, Marinduque, and Negros Oriental.
Bohol I Electric Cooperative, Inc. (BOHECO I) also borrowed P13.33-million as calamity loan to finance the rehabilitation of the Janopol Mini-Hydro Power Plant, which was damaged during the onslaught of Super Typhoon Odette in 2021.
The NEA under the incumbent administration provides financial assistance to its partner ECs through the Enhanced Lending Program. The mechanism aims to ensure their operations will continue for the benefit of their member-consumer-owners.
