With the 2006 Philippine Biofuels Act yet to be passed, San Carlos Bioenergy has secured already the Php 1.78 Billion funding required to setup an ethanol distillery with integrated co-generation power-plant. The funding came from a consortium of Banks led by the Development Bank of the Philippines (DBP), Land Bank of the Philippines, Banco de Oro Universal, China Bank, and Equitable PCI.
DBP and Land Bank are both government banks. They are tasked to provide loans for biofuels producers, blenders and transporters in the Philippines as mandated in the the 2006 Philippine Biofuels Act.
The distillery is targeted to produce 125,000 liters per day (35 to 39 million liters/year) of fuel grade ethanol while the power plant will have a capacity of 8 MW.
The distillery is to be located at the San Carlos Agro-Industrial Economic Zone found at Negros Occidental. The distillery is strategically located in the Philippine province which has the highest production of sugarcane.
Original Article here
Category: Energy News, Bioethanol
February 18th, 2007 at 12:52 am
[…] On what is expected to be the very first bioethanol plant to be set up in the Philippines. San Carlos Bioenergy Inc, awarded the contract to build their 120,000 liters/day Ethanol Distillery and an 8MW Power plant to Poyry PLC of Finland. Their winning bid came at a cost of €10 Million. […]