ASEA Aklan Biomass Plant

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ASEA One Power Corporation (AOPC) developed the 12MW Aklan biomass plant, Bgry. Agbanawan, Banga, Aklan. The tariff for the plant was P5.9/kWh. Local government endorsement was received in March 2010. The bidding for the EPC contract was conducted in September 2010, after previously being awarded to AREVA Bioenergy India which was denied due to too low pressure requirements. The project signed 54 supply contracts of rice with different millers in September 2010. The equity investor was identified in March 2011. The design contract was awarded to Dragon Power Clean Technology (China). The initial equity MOU with ASEA and LG International were signed in June 2011 - at that time negotiations with Dutch development bank FMO were also conducted over a US$10 million equity investment. The equity investors were confirmed in September 2011: LG International, FMO, and Boustead SALCON. The EPC contract was signed in April 2012 with Dragon Power Cleantech (China). Construction started in September 2012. Commissioning was expected for April 2014. Fuel supply was to consist of local sustainable agriculture rice crop residues, rice husk, rice straw, and woodchips. Output was expected to be sold to Aklan Electric Cooperative Inc under a 25 year PPA, starting in January 2013. The project reached financial closure in June 2012, with LBP (Land Bank of the Philippines). The debt/equity ratio was 70/30. Total project cost was unknown. The project received tax benefits from the government. http://www.renewableenergyfocus.com/view/26702/contract-signed-for-12mw-biomass-plant-in-philippines/ http://www.neda-rdc6.ph/site/rpmc6/on_PowGen_Biomass-ASEA.pdf http://www.neda-rdc6.ph/website/rpmc6/on_PowGen_Biomass-ASEA.pdf