North Negros BioPower
The North Negros Biopower biomass plant was commissioned in January 2020 with a capacity of 25 MW near Victorias City in Negros Occidental province. It generates 185 million kWh of electricity annually mainly from waste generated during the harvesting and processing of sugarcane, as well as from grassy and woody energy crops.
OVERVIEW
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LOCATION
Philippines
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PROJECT SITE
252,900 ㎡
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CAPACITY
25 MW
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INVESTMENT VOLUME (CAPEX)
105 million USD
ESG PROFILE
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CONSTRUCTION JOBS CREATED
(average during construction period) 658 -
NEW PERMANENT JOBS CREATED
586
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ELECTRICITY REACH (people)
191,193
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CO2 AVOIDED (tonnes p.a.)
122,142
UN SDGs (directly supported)
Project Videos
Project details
| Project Special Purpose Vehicle (SPV) | North Negros BioPower Inc. |
|---|---|
| Location | Agro-Industrial Land, Barangay Sta. Teresa, Municipality of Manapla, Province of Negros Occidental, Philippines Coordinates: 10 56 30.87 N, 123 10 20.42 E |
| Technical Specifications | Feedstock type: primarily cane trash Feedstock utilisation: 244,000 tonnes per year Feedstock availability: 2.1 million tonnes per year of biomass are available within a 50 km-radius catchment area Grid connection: To an existing 69 kV transmission line, 0.10 km away |
| Supplier/Manufacturer | Boiler: Jinan Boiler Group Company Ltd (China), Steam Turbine: Siemens (India), Generator: Siemens (India), Motors, Transmitters: for bidding, Gearboxes: Siemens (India), Distributed Control System: Yocogawa, Water Treatment Plant: Aquagen, Fuel Handling System: GES, Tractors: Massey Ferguson (USA), Forage Wagons, Rotary Rakes: Pöttinger (Austria), V Rakes: Hodge Industries (Australia), Baler: Nantong Cotton Machinery (China) |
| General Contractor (EPC) | Pöyry Energy Inc. |
| Operations & Maintenance | Pöyry Energy Inc. |
| Lender’s Engineer | Sargent & Lundy LLC |
| Electricity Offtake Counterparty | Interconnection Agreement with Northern Negros Electric Cooperative (NONECO) Renewable Energy Payment Agreement with National Transmission Corporation (Administrator of the government backed Feed-in Tarif Fund) |
| Credit Rating Electricity Offtake Counterparty | Standard & Poor’s: BBB+ with stable outlook, Moody’s: Baa2 with stable outlook, Fitch: BBB with stable outlook |
| Specifications of the Power Purchase Agreement | Statutorily guaranteed feed-in-tariff rate of PHP 6.53 (USD 0.13) per kWh plus an annual escalation in electricity prices to account for inflation and exchange rate fluctuations. The rate has been set and approved for 20 years by the Government‘s Energy Regulatory Commission. |
| Minimum guaranteed revenue in the first full year of operations | USD 28.8 million |
| Third party guarantees additional to the market standard warranties provided by suppliers, manufacturers and EPCs | During the first 12 month of full operations: Performance Security issued by Nordea Bank AB, Finland Branch over the EPC. |
| Project Insurance Coverage (amount insured) | Transportation Insurance incl. Delay in Start-Up Insurance (USD 54.49 million) Contractors All Risk Insurance incl. damage from natural disaster (USD 52.00 million) and integrated Third Party Liability Insurance (USD 1.5 million) and Delay in Start-Up Insurance (USD 36.44 million) Contractors Equipment Insurance: (USD 5 million) |
| Insurer (coverage ratio) | Transportation Insurance: AIG Philippines Insurance (100%) Contractors All Risk Insurance: QBE Seaboard Insurance Philippines (40%), Pioneer Insurance & Surety Corp (30%), AIG Philippines Insurance (22.5%), Mapfre Insurance Company 7.5% Contractors Equipment Insurance: AIG Philippines Insurance (100%) |
| Status | In full operation since January 2020. |
Status: 30/09/2021
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