ACEN South Luzon: An ETM by the same name?

In:

Power

Region:

Asia-Pacific

Tom Nelthorpe

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ACEN’s divestment from the South Luzon coal-fired plant in the Philippines is billed as an energy transition financing, although it is not part of the ADB’s official ETM programme. Despite appearing to follow some of the principles of the ETM, the transaction’s structure is a little opaque and questions remain about the suitability of South Luzon for retirement before other plants.