Local firm Ecoenerhiya announced that they will put up a 10 MW biomass project in Quezon with a price tag of $36 Million (P1.7 Billion) under Unisan Biogen. 70% of the project will be financed through loans while the rest will be from equity. They are currently approaching Banco de Oro to finance their project. Construction is expected to begin by May 2010 and to be completed by June the following year. They have already signed a supply agreement with the Quezon Electric Cooperative for the energy produced by the plant
There are 23 other projects in various stages that they are looking into with 12 of these expected to be rolled out within in 5 years. They are also on the look out for the possible investors who want to invest in these projects. Most of these projects are being projected to be done in Mindanao. The business model they will follow is to develop the plants then with a minority stake, sell the rest to other investors.
The Quezon biomass plant is said to be a test case for them, if it is successful they will continue with their plan to put up 23 other biomass plants
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Category: Biomass, Investment
