NEA channels P1.64B into electric co-op upgrades
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The National Electrification Administration (NEA) released P1.642 billion in state-funded loans to 23 electric cooperatives (ECs) in the first half of the year, providing fresh financing for grid upgrades and power distribution projects.
The agency said Friday the amount released in the first six months is equivalent to nearly 59 percent of the roughly P2.8 billion in loans NEA extended to 45 electric cooperatives during the whole of 2025.
According to NEA’s Accounts Management and Guarantee Department, P1.619 billion of the total was allocated to fund capital expenditure projects that will strengthen power distribution systems and improve electricity service.
The beneficiaries include Ilocos Sur Electric Cooperative, Inc. (ISECO), Zambales I Electric Cooperative, Inc., Zambales II Electric Cooperative, Inc., Pampanga Rural Electric Service Cooperative, Inc. (PRESCO), Tablas Island Electric Cooperative, Inc., Occidental Mindoro Electric Cooperative, Inc. (OMECO), Camarines Sur I Electric Cooperative, Inc., Camarines Sur II Electric Cooperative, Inc., Camotes Electric Cooperative, Inc., Bohol II Electric Cooperative, Inc., Zamboanga del Norte Electric Cooperative, Inc., Misamis Oriental II Electric Cooperative, Inc., Misamis Occidental I Electric Cooperative, Inc., Bukidnon II Electric Cooperative, Inc., Davao del Sur Electric Cooperative, Inc., Sultan Kudarat Electric Cooperative, Inc., South Cotabato II Electric Cooperative, Inc., Cotabato Electric Cooperative, Inc.–PPALMA, Cotabato Electric Cooperative, Inc., Agusan del Sur Electric Cooperative, Inc., Agusan del Norte Electric Cooperative, Inc., and Surigao del Sur II Electric Cooperative, Inc.
Meanwhile, Romblon Electric Cooperative, Inc. received a P23-million working capital loan to settle its power supply obligations, help sustain operations, and maintain reliable electricity service for its member-consumer-owners.
NEA said the financing was extended through its Enhanced Lending Program, which provides electric cooperatives with access to loans for regular capital expenditure, emergency and unplanned spending, disaster resiliency projects, calamity response, renewable energy investments, concessional financing, and working capital requirements.
