China's $15-B investment pledge covers Negros Occidental biomass projects

China's $15-B investment pledge covers Negros Occidental biomass projects

TWO biomass projects in Negros Occidental are included in the $15-billion
investment pledge secured by the Philippine government from China during the
state visit of President Rodrigo Duterte last week.

These biomass projects of the North Negros BioPower Inc. and Wuxi Huaguang
Electric Power Engineering form part of about 30 covered investment ventures
in the country.

The 25-megawatt (MW) biomass power plant project in La Carlota City is
intended to supply base load power to the local grid and deliver
approximately 175 million-kilowatt hours of electricity per year.

The groundbreaking of the facility with development cost of P114 million was
held in April this year.

When commissioned in 2018, it is positioned to be one of the biggest biomass
power stations in the country with the capacity to energize 265,000 people
in the region's urban centers and rural areas.

In the north portion of the province, another 25-MW biomass power plant in
Manapla town will rise soon.

The commissioning of the project is targeted late next year.

Like the biomass project in La Carlota, its feedstock utilization is pegged
at 220,000 tonnes per year.

All in all, the two renewable energy projects are expected to create about
5,000 jobs in feedstock production and collection.

The power plants are being constructed through the cooperation between
ThomasLloyd CTI Asia Holdings and Bronzeoak Philippines.

Wuxi Huaguang Electric Power Engineering is the general contractor.

Moreover, the government has secured a total of $24-billion in both
investment and credit line pledges from China.

Other investment projects that will comprise the $15-billion fund are mostly
intended for infrastructures.

The Department of Trade and Industry (DTI), in a report, said these
investment agreements are expected to generate two million jobs over the
next five years.

During his visit last Thursday, Duterte made the pronouncement to loosen the
country's military and economic ties with the United States, instead venture
more with China.

A local business leader had earlier said that the "shift" will eventually
further boost the business industry of the province, which is dominated by
Chinese market players especially in the retail sector.

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Ref:
http://www.sunstar.com.ph/bacolod/business/2016/10/26/chinas-15-b-investment
-pledge-covers-negros-occidental-biomass-projects

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com