The Philippine Star reported today that UK-based Global Green Power Plc. (GGPP) is expanding its operations in the Philippines with new investments worth P9.3B in the country’s power sector.
The investments, made through GGPP’s Philippine affiliate Green Power Panay Philippines Inc.(GPPPI), will pave the way for the construction of two major renewable energy biomass-fired power plant projects. These would be the first renewable energy ESAs signed simultaneous with the passage into law of the Renewable Energy Bill on Dec. 16.
GPPPI will put up two 18-megawatt biomass power plants in Panay with an estimated construction cost of $40 million each. The first plant will be within the ILECO 11 area and is targeted for completion on January 2011, followed by the second plant several months later.
GGPP chief technical officer Albert Dalusung III said “the plants will be built to European and international emission standards and will spur economic development through their delivery of consistent, cost efficient and reliable energy to industry and the Ilonggo community... Our renewable energy projects will also ensure the optimization of Clean Development Mechanism for the Philippines.”
Source:
Philippine Star
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