28 March 2010 in ph.news.yahoo.com
European firm tapped for turnkey contract to build 3 biomass plants
Europe's Poyry Energy has been tapped as the engineering, procurement and construction (EPC) contractor for the initial three pilot biomass power projects being pursued in the country by British project development firm Global Green Power PLC Corporation.
The three projects will have aggregate capacity of 70 megawatts and will be sited in Nueva Ecija, Iloilo and Bukidnon.
''It will be for a series of projects, so we're doing EPC contract with Poyry Energy, it's originally from Finland and it's one of the largest engineering consultancy firm in Europe,'' Global Green president David de Montaigne said. The propounded EPC firm's profile indicates that Poyry Energy is now headquartered in Zurich, Switzerland.
Global Green Power has been the much-hyped entity programming mammoth investments of $1.0 billion in the country's RE sector, to put total capacity of 420 megawatts. Asked how a new entrant like Global Green would be able to convince lenders to finance its projects given that it has not a single megawatt capacity yet to back its track record, de Montaigne noted that they can rely on the experience, track record and expertise of partners and technology providers.
He further bared that China's biomass boiler provider will also be coming in as technology partner in Global Green's projects. At $48 million investment for every 17.5 megawatt build, the total project cost for the company's initially planned portfolio will be $192 million. ''Our technology partner is DP CleanTech CleanTech from China. Off-take for Iloilo project is now fully covered, but we are also waiting for the feedin-tariff for our other projects,'' the company executive said.
Despite some hurdles along the way, De Montaigne has given word that the planned 420MW capacity will become a reality in seven years time or by 2017.
For the three initial projects, the Iloilo portfolio was designed to yield generation reaching 17.5 megawatts; Nueva Ecija's capacity will also be 17.5 MW; while Bukidnon is expected to add 35 megawatts in Mindanao grid's capacity by 2013. Both the Nueva Ecija and Iloilo projects are targeted on-line by 2012.
''We're trying to help in the Mindanao crisis, so we're trying to speed (the Bukidnon project) one up,'' he stressed.
He then emphasized that ''we have 12 major projects for 420 megawatts, we have that in three phases, that's for seven years.''