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.
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