Negros Occidental Biomass Portfolio

Active

The project portfolio includes three separate plants with a total capacity of 70 MW: San Carlos Biopower (20 MW), South Negros Biopower (25 MW) and North Negros Biopower (25 MW), all of which are located on Negros Island. The plants will convert sugarcane waste to electricity, using circulating fluidised bed boiler technology. Project companies have been created for each of the plants - North Negros Biopower Inc., San Carlos Biopower Inc. and South Negros Biopower Inc. The principle financial sponsor is ThomasLloyd. Other shareholders include Bronzeoak Philippines as well as Hong Kong’s WBE International Green Energy, which will provide engineering and construction services. The project has a PPA with National Transmission Corporation. The approximate total cost for the portfolio is $204 million: $114 million for South and North Negros Biopower plants., and $90 million for San Carlos. The portfolio will be financed with a $161 million loan from the International Finance Corporation. The Clean Technology Fund and the government of Canada will also participate in the loan through the IFC-Canada Climate Change Program. The deal closed on 18 August 2016. https://ijglobal.com/data/transaction/36531/negros-occidental-biomass-power-plants-70mw http://ifcextapps.ifc.org/ifcext%5Cpressroom%5Cifcpressroom.nsf%5C0%5C0EA92D42BDDB6DA9852580140018761E