BRONZEOAK Philippines and the ThomasLloyd Group announced they will jointly develop the 20-megawatt (MW) San Carlos biomass power project in Negros Occidental at a cost of $90 million (P4 billion).
Don Mario Dia, Bronzeoak director, said that construction of the project will begin in April. The biomass power project will take 24 months to complete.
“The board has approved SCBiopower (San Carlos biomass power project), the structure is now complete,” Dia told reporters.
The biomass plant will be built alongside the existing San Carlos Bionergy ethanol facility in Negros Occidental that is also owned by Bronzeoak.
According to Dia, the main power plant and associated infrastructure will be built on a 20-hectare area, and another five hectares will be allocated for fuel storage.
The power plant will use sugarcane residues typically left in the fields after harvest and energy crops from dedicated plantations. These principal feedstock sources will be augmented by other, locally available agricultural residue biomass.
Dia said Bronzeoak tapped Wuxi Huahuang of China as engineering, procurement and construction, and maintenance contractor.
Apart from generating electricity for the Visayas, the facility will also provide an additional source of income to the local farming community, Dia said.
Established by Zabaleta & Co. and Bronzeoak Ltd. of the UK, Bronzeoak Philippines specializes in renewable energy project development, finance and management of integrated agro-energy projects.
The ThomasLloyd Group acquired Bronzeoak Ltd. of the UK, the principal subsidiary of Bronzeoak Group Ltd., several years ago.
The ThomasLloyd Group is a securities and alternative investment management firm that provides a diverse range of financial products and services worldwide to a select client.