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Bronzeoak group to invest $260M in PH

/ 11:38 PM February 09, 2014

Bronzeoak Philippines and its partners are investing about $260 million (or roughly P11.7 billion) in renewable energy projects, which can generate as much as 125 megawatts.

In an interview with reporters last week, Bronzeak Philippines chair Jose Maria T. Zabaleta said the company, through various subsidiaries and partners, was building biomass projects in Negros that can generate a total of 75 megawatts, and a solar farm that can generate as much as 50 MW.

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“One biomass project is still under construction, while the other one has broken ground, but we have not yet received the notice to proceed,” Zabaleta said.

San Carlos BioPower Inc. began last year the construction of the 20-MW biomass power plant in the San Carlos Agro-Industrial Economic Zone on the eastern coast of Negros Occidental, while South Negros BioPower Inc. is still in the permitting stage, but it expects to start construction of the 25-MW facility in La Carlota City, Negros Occidental, within the year.

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The San Carlos facility is scheduled to start operations early 2015, while the South Negros plant is expected to start providing power to the grid by early 2016.

More biomass projects are reportedly in the pipeline. Amy R. Remo

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TAGS: biomass projects, bronzeoak Philippines, Business, Investment, renewable energy sector
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