Published March 28, 2017, 10:01 PM By Myrna M. Velasco
Beyond investments on conventional energy technologies for baseload power supply, Global Business Power Corporation (GBP) is now re-casting its portfolio for the inclusion of renewable energy (RE) ventures that will kick off with 67 megawatts of biomass capacity for targeted sites in Luzon and Visayas grids, according to company President Rolando T. Bacani.
GBP Executive Vice President Jaime Azurin added that the company is on a hunt for investment opportunities in the RE sector, fundamentally on bagasse and also hydropower prospects.
To cement its ‘green energy’ business platform, the company has just recently incorporated Global Renewable Power Corporation as its vehicle for ventures on this sphere.
“Another key priority for us is to explore renewable energy sources as part of our commitment to offer flexible energy solution to our customers,” Azurin stressed.
He indicated that the company now has “a couple of biomass projects in the pipeline, which will be our first foray into RE.” The company also previously dropped hints of possible biomass venture in Mindanao grid.
GBP’s renewable energy investment plunge is being pursued alongside development cycles for its blueprinted 670-megawatt coal fired power facility to be sited in La Union province. It will be a two-unit generating facility at 335MW capacity each.
“Now that we have secured the baseload requirement of the Visayas with our facilities in Cebu and Panay, we are now looking into expanding in Luzon,” he stressed.
Bacani further intimated that the company is “looking to leverage on the upbeat business outlook and increased infrastructure demand by expanding (our) operations.”
Company executives have noted that the anticipated economic growths would very well underpin the power capacity expansions that they have cast on blueprints.
In the Visayas, for instance, Global Power marked the recent pronouncements of developers on to ramping up various commercial and residential projects in Iloilo.
“Due to growing demand for office spaces, Megaworld is seeking to double its office spaces in Iloilo Business Park in the next three years,” the company said, while adding that SM is similarly bullish on the province with its plan of adding a new hotel as well as leisure and commercial projects in the area.
GBP already bulked up its total capacity to 854MW, and this is seen expanding further with the Luzon projects as well as portended capacity beefing up in RE and in the retail competition and open access space.