Business World Online
Posted on February 09, 2014 10:01:16 PM
BRONZEOAK Philippines, Inc. has earmarked over $500 million to develop renewable energy projects in Negros Occidental with combined capacity of 125-megawatts (MW), a top company official told reporters at Manila Hotel late on Thursday last week.
“We will have solar and biomass projects: a total of 50 MW of solar for four projects and the 75 MW for biomass will be three projects,” Jose Maria T. Zabaleta, Bronzeoak Philippines chairman, replied when asked on the company’s projects.
These projects, Mr. Zabaleta said, will cost more than $500 million and will be funded through a combination of debt and equity.
“It will be 50-50 equity and debt,” he said.
“Equity as Bronzeoak will be $260 million. That’s for all projects.”
TIMETABLE
Mr. Zabaleta said that the company’s 22-MW solar farm -- composed of two facilities with capacities of 13 MW and a 9 MW -- is already being built by its subsidiary, San Carlos Solar Energy, Inc. (SaCaSol), in San Carlos Economic Zone.
“SaCaSol -- that’s going to come on-stream by April,” Mr. Zabaleta said.
“Then we have another one coming up in South Negros that will be about 8 MW and we want another big one in North Negros, that will be as high as 20 MW,” he added.
Asked on biomass projects, he noted that an 18-MW facility is being built by San Carlos BioPower, Inc. in San Carlos City and is scheduled to be operational early next year.
“So there’s one under construction; the other one has broken ground but no notice to proceed yet. The one that has broken ground is in San Carlos City,” Mr. Zabaleta said.
“South Negros is already in the permitting stage [sic] and we hope to issue the notice to proceed within this year. We have one in North Negros too. We will cover all of the possible biomass projects in Negros.”
Excluding ventures with ongoing construction, the other projects will be built in Negros Occidental within the next two years, he said.
“Commencement of construction within the next two years -- completion will take time. Construction period is two years for biomass and for solar, six months,” Mr. Zabaleta said.
He also noted that it takes about a year to secure all necessary permits.
Bronzeoak Philippines, established in 2003, is engaged in renewable energy development in the country. The company, through San Carlos Bioenergy, Inc., owns and operates an ethanol facility and cogeneration plant that produces 40 million liters of fuel ethanol and 60 million kilowatt-hours of electricity each year. -- Claire-Ann Marie C. Feliciano source
These projects, Mr. Zabaleta said, will cost more than $500 million and will be funded through a combination of debt and equity.
“It will be 50-50 equity and debt,” he said.
“Equity as Bronzeoak will be $260 million. That’s for all projects.”
TIMETABLE
Mr. Zabaleta said that the company’s 22-MW solar farm -- composed of two facilities with capacities of 13 MW and a 9 MW -- is already being built by its subsidiary, San Carlos Solar Energy, Inc. (SaCaSol), in San Carlos Economic Zone.
“SaCaSol -- that’s going to come on-stream by April,” Mr. Zabaleta said.
“Then we have another one coming up in South Negros that will be about 8 MW and we want another big one in North Negros, that will be as high as 20 MW,” he added.
Asked on biomass projects, he noted that an 18-MW facility is being built by San Carlos BioPower, Inc. in San Carlos City and is scheduled to be operational early next year.
“So there’s one under construction; the other one has broken ground but no notice to proceed yet. The one that has broken ground is in San Carlos City,” Mr. Zabaleta said.
“South Negros is already in the permitting stage [sic] and we hope to issue the notice to proceed within this year. We have one in North Negros too. We will cover all of the possible biomass projects in Negros.”
Excluding ventures with ongoing construction, the other projects will be built in Negros Occidental within the next two years, he said.
“Commencement of construction within the next two years -- completion will take time. Construction period is two years for biomass and for solar, six months,” Mr. Zabaleta said.
He also noted that it takes about a year to secure all necessary permits.
Bronzeoak Philippines, established in 2003, is engaged in renewable energy development in the country. The company, through San Carlos Bioenergy, Inc., owns and operates an ethanol facility and cogeneration plant that produces 40 million liters of fuel ethanol and 60 million kilowatt-hours of electricity each year. -- Claire-Ann Marie C. Feliciano source
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