5 June 2009 in Malaya
Green Power to invest 3.9B for two plants
Green Power Panay Philippines Inc. and its sister firm Green Power Nueva Ecija Philippines are investing a combined P3.9 billion for the construction and operation of two biomass power plants.
The companies are incorporated by the same stockholders, Maribeth de Montaigne with 70 percent and Global Green Power Plc with 30 percent.The projects are located in Mina, Iloilo, and San Leonardo, Nueva Ecija, costing P1.9 billion and P2 billion, respectively.
Each will have a capacity of 17.5 megawatts, using rice husks, rice and corn straws, coconut husks and bagasse as input. Both Iloilo and Nueva Ecija are considered rice granaries and major producers of corn.
Each 17.5 MW plant will require around 400 to 500 metric tons of biomass per day.
Output will be sold to electric cooperatives, investor-owned electric distribution utility and other power off-takers via the sub-transmission lines owned by the cooperatives.
The Board of Investments (BOI), which approved both projects under pioneer status, said the plants, being closer to power users, will eliminate the transmission charge of Transco and temper systems loss.
The BOI said this will bring down the cost of electricity by about P1.50 to P1.80 per kilowatthour.
Both projects are scheduled for commercial operations in January 2011.
Another biomass power project is being undertaken by Sure Eco Energy Philippines, a joint venture between Filipino (60 percent) and Japanese firm MG Leasing Corp. (40 percent).
The joint venture is investing P192 million for facilities in four several locations: San Pedro, Laguna; San Jose, Lipa City; Gen. Natividad, Nueva Ecija; and Sumilao, Bukidnon. These plants will be the primary source of electricity for farms in these places.