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Energy

NEDA Board okays P24.1B worth of energy projects

Sun, 03/25/2012 - 00:00 | admin

MANILA, March 25 (PNA) -- The National Economic and Development Authority (NEDA) Board, chaired by President Benigno S. Aquino III, has approved two energy projects amounting to P24.1 billion.
These projects aim to promote sustainable transport, achieve energy efficiency and thus address market transformation in the sector.
The P21.5-billion Market Transformation through Introduction of Energy Efficient Electric Tricycle (E-Trike) Project will reduce fuel consumption of tricycles by 2.8 percent, equivalent to 560,926 oil barrels.