More renewable energy-based power plant to be built next year
Posted on September 27th, 2009
More investments on renewable energy are coming in the Philippines, as another British firm expressed interest to build a total of 30 megawatt (MW) ethanol-based power plants in Bukidnon and Tarlac.
British power firm Bronzeoak Ltd., through its subsidiary Bronzeoak Philippines said they are looking to invest some $100 million for the proposed ethanol power plants. The announcement was made by Don Dia, Bronzeoak Philippines treasurer.
Dia said they would be building a 15 MW power plant in Capas, Tarlac and another 15 MW power plant in Kibawe South Bukidnon. They expect to start the Capas project by mid-2010. “We will have our groundbreaking middle of 2010,†he added.
They will be integrating the co-generation power facilities to a 40 million-liter ethanol processing plant. The company targets to produce 110 million liters annually by 2011 and beyond.
Bronzeoak already started commercial operations of its San Carlos Bioenergy ethanol processing plant which supplies ethanol to Petron Corp. Aside from that, San Carlos also has an 8-MW co-generation power plant component. Four to five of this MW is being exported to the grid and the remaining capacity is being utilized for its own requirement.
Bronzeoak Philippines is a joint venture between Bronzoeak Ltd. of UK and Zabaleta & Co. The company earlier said that they are planning to tap the Development Bank of the Philippines to fund the said ethanol projects. They are also looking for possible partners for the development of three potential sites for their projects.
Established in 2003, Bronzeoak Philippines’ main purpose is developing biomass renewable energy projects in the country. The company also holds a stake in San Carlos Bioenergy Inc. which operates as an ethanol distillery and power co-generation plant located in Negros Occidental.
