Property


Condo firm qualifies in business plan tilt




Posted on January 10, 2013


CAGAYAN DE ORO -- Italpinas Euroasian Design and Eco-Development Corp. (Italpinas) is the lone Philippine entry left in the finals segment of the Climate Technology Initiative-Private Financing Advisory Network’s (CTI PFAN) Asia Forum for Clean Energy Financing Business Plan Competition scheduled on Feb. 22 in Singapore.

“We are happy to inform you that we have qualified for the final investors’ presentation,” Romolo V. Nati, chief executive officer of Italpinas, said in a statement.

Italpinas is an Italian-Filipino joint venture which designed and developed Primavera Residences, the first eco-friendly building in Northern Mindanao. “Out of 18 semifinalists, we are the only presenter from the Philippines.”

The CTI PFAN Web site (www.cti-pfan.net) says 10 clean and renewable energy projects from Asia will present their business plans at the forum.

The projects were selected for their commercial viability and environmental benefits from over 40 proposals and have all received coaching on the preparation of their business plans and investor pitches from the network’s professional advisors.

Mr. Nati said Italpinas first presented the firm’s new project on Oct. 22 last year, after which it qualified as one of 18 semi-finalists selected by the organizers from 41 entries.

“As one of those qualified for the second stage, Italpinas received coaching from professional experts, who helped create a financially, socially and environmentally viable business plan during a Project Development and Financing Workshop held Nov. 9 in Singapore,” he added.

Italpinas first venture, Primavera Residences in Cagayan de Oro, had previously been recognized by the South East Asia Property Awards as one of the Best Condo Developments in the Philippines in 2011.

A P250-million, 10-storey, twin-tower condominium, the Primavera Residences’ business plan was previously cited as one of the most promising clean energy investment opportunities in the Philippines during the 2nd annual Philippines Clean Energy Investor Forum held at the Edsa Shangri-La Hotel Manila in 2011.

Aside from CTI PFAN, the Asia Forum for Clean Energy Financing Business Plan Competition is also sponsored by the United States Agency for International Development, the Energy for All Program of the Asian Development Bank, and the Japan-based International Center for Environmental Technology Transfer.

Other groups supporting the forum are Dawn Consulting, CleanEnergy Solutions International, PPL International, the Sustainable Energy Association of Singapore and ReEx Capital Asia.

CTI PFAN is a multilateral, public-private partnership initiated with the cooperation with the Expert Group on Technology Transfer of the UN Framework Convention on Climate Change. -- M. D. Baños