New renewable energy investment program carried out across the world

Global Business Power Corporation, leading energy investment subsidiary of the Metro Bank Group, recently has planned to establish numerous power plants in the Visayas. The power plants carried out in the Visayas region, will help to meet the raising power demand of this region. The director of the Global Business Power Corporation Alfred Ty articulated that, the power demand in the Visayas region will increase tremendously in the near future and enough power plants should be implemented, to satiate the rising demand. Alfred Ty also mentioned that, the company is planning to produce an energy investment around 492 million US dollars and the energy investment will be used for construction of a couple of 82 megawatt power plant in Iloilo City and Toledo City. These two power plants will add 246 megawatt of energy, for meeting the future demand. Cebu Energy Development Corporation has helped Global Business Power Corporation, for setting up three 246 megawatt boiler power plants in Toledo City.

Lee Myung-bak, the president of South Korea recently denoted that, the country depends on other nations for their energy needs and they are planning to fortify their renewable energy sector, by providing essential renewable energy investments. South Korea is one of the fourth largest economies in Asia, planning to achieve around 40 billion USD, through exports by 2015. The government of South Korea will establish a handful of test beds for wind and solar power projects during 2011, and an energy investment of 17.7 million USD, is allotted for this venture. Lee Myung-bak in the New Year speech asserted that, the wind and solar energy industries will experience a remarkable transformation, in the forthcoming years. Currently the government of South Korea is exporting nuclear power, to the United Arab Emirates and the government will take immense steps to enhance the export rate as well as it will implement large measures to deal with the era of climate change.

The chief executive officer and president of the Manila Electric Company Oscar S. Reyes, the leading energy supplier in Philippines said that, the energy investment program from 2011 to 2015 will receive around 45 billion Philippines dollar. They have sufficient amount to foster the distribution system and they would contribute around 11 billion Philippines dollar per annum for this cause. The Manila Electric Company has received three loan facilities earlier from various banks, to increase the investments in energy program. The Manila Electric Company had a huge responsibility to promote investments in energy projects and also questing to acquire several distributions systems.