23 December 2008 in Your Renewable News
Global Green Power expands RP operations
UK-based Global Green Power Plc. (GGPP) is expanding its operations in the Philippines with P9.3-billion worth of new investments in the country’s power sector.
The investments were made through GGPP’s Philippine affiliate Green Power Panay Philippines Inc.(GPPPI), a top company official said.
GGPP CEO David de Montaigne said their local unit has entered into a number of electricity supply agreements (ESA) in Panay that will pave the way for the construction of two major renewable energy biomass-fired power plant projects.
These deals would be the first renewable energy ESAs signed simultaneous with the passage into law of the Renewable Energy Bill on Dec. 16.
“We signed agreements with Iloilo Electric Cooperative I and II on Dec.16 and Dec. 17, respectively. The signing of the ESAs will kick-off our RE projects in the Philippines and we are very proud that our contracts are the first to be awarded after the Renewable Energy bill was passed. We were encouraged to develop our projects with all possible haste to deliver energy security, employment and consistent, reliable clean energy to the Philippines.
Under the 25-year contract, GPPPI will put up two 18-megawatt biomass power plants in Panay with an estimated construction cost of $40 million each. The first plant will be “embedded” within the ILECO 11 area and is targeted for completion on January 2011, followed by the second plant several months later.