9 April 2009
GGP sign contract with Poyry Energy for Panay & Nueva Ecija Biomass Power Plants
ZURICH SWITZERLAND April 9 2009 On the 9th April 2009 Global Green Power PLC Corporation ("GGPC") signed a contract with Poyry Energy Inc., to supply Owners Engineers services to Green Power Panay Philippines Inc and Green Power Nueva Ecija Philippines Inc.
The contract will facilitate the delivery of biomass power plants to GGPC's subsidiary Panay and Nueva Ecija project companies who are strategically located to supply clean and renewable energy to the Philippines Luzon and Visayas grid systems.
Poyry Energy Inc will commence initial engineering, design and the procurement process for key equipment of an initial 60 MW's of multi-fuel biomass power plants. GGPC will be standardizing on 15 MW power plant units to deploy on a modular basis.
The estimated project value of each 15 MW unit is $USD 38 Million with a post feasibility study to delivery time of 24 months.
GGPC subsidiary companies have signed 25-year power Supply Agreements with A+ rated Philippine Electric Cooperatives and also intend to supply power through the Philippine Renewable Energy Bills feed in tariff and facilitation of bilateral “Green Option” contracts.