Global Green Power is eyeing a total of $200 Million worth of renewable energy projects in the Philippines. This is in the form of 5 Biomass powerplants rated to produce a total of 87.5 MW. This is but part of a $1B package that the company is planning to expend in the Philippines emerging renewable energy sector.
The five 17.5 MW biomass power plants will be situated in Panay, Samar, Nueva Ecija and Pangasinan. The projects are located in the Visayan and Luzon islands.
France’s AREVA SA has been commissioned to construct the Philippine facilities according to European standards. Aside from the income generated by selling energy to the grid, they also plan to tap into the lucrative carbon credit market.
Business wise it should be noted that they are talking to Land Bank of the Philippines to finance the loan for the first phase of this project so I think there will only be minimal capital input on their end to the Philippines.
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Category: Carbon Credits, Biomass, Clean Energy
