San Carlos BioPower
San Carlos Biopower is a new, stand-alone base-load power plant with a gross power generation capacity of 20 MW, which since its completion has generated 141 million kWh of electricity per year, supplying 212,000 people with renewable energy. Crop residues from local agriculture, e.g. sugar cane leaves and stalks as well as coconut shells, rice husks and specially cultivated energy crops, are used as fuel.
OVERVIEW
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LOCATION
Philippines
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PROJECT SITE
210,000 ㎡
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CAPACITY
20 MW
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INVESTMENT VOLUME (CAPEX)
95 million USD
ESG PROFILE
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CONSTRUCTION JOBS CREATED
(average during construction period) 526 -
NEW PERMANENT JOBS CREATED
558
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ELECTRICITY REACH (people)
158,082
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CO2 AVOIDED (tonnes p.a.)
100,990
UN SDGs (directly supported)
Project Videos
Project details
| Project Special Purpose Vehicle (SPV) | San Carlos BioPower Inc. |
|---|---|
| Location | San Carlos Ecozone (Agro-Industrial Economic Zone), Circumferential Road, Barangay Palampas, San Carlos City, Province of Negros Occidental, Philippines Coordinates: 10 30 36 N, 123 25 16 E |
| Technical Specifications | Feedstock type: primarily cane trash with some grassy and woody energy crop plants (ECP) Feedstock utilisation: 170,000 tonnes per year Feedstock availability: 1.1 million tonnes per year of biomass are available within a 40 km-radius catchment area Grid connection: To an existing 69 kV substation, 1.5 km away |
| Supplier/Manufacturer | Boiler: Wuxi Huaguang Boiler (China); Turbine: Harbin Turbine (China); Generator: Shandong Jinan Power Equipment Factory (China); Motors, Transmitters: ABB (Switzerland); Pneumatic Control Valve/Actuator: Nihon Koso (Japan); Boiler Feed Pumps: Sulzer (Switzerland); Gearboxes: Siemens (Germany); Mobile Fuel Shredder: Roto Grind (Germany); Tractors: Massey Ferguson (USA); Forage Wagons, Rotary Rakes: Pöttinger (Austria); V Rakes: Hodge Industries (Australia); Baler: Nantong Cotton Machinery (China) |
| General Contractor (EPC) | Wuxi Huaguang Electric Power Engineering Co., Ltd. |
| Operations & Maintenance | Pöyry Energy Inc. |
| Owner´s Engineer | Pöyry Energy Inc. |
| Lender’s Engineer | Sargent & Lundy LLC |
| Electricity Offtake Counterparty | Interconnection Agreement with Victorias-Manapla-Cadiz Rural Electric Service Cooperative Inc. (VRESCO) Renewable Energy Purchase 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 6.63 (USD 0.15) 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 22.6 million |
| Project Insurance Coverage (amount insured) | Industrial All Risks Insurance, incl. material damage and business interruption (USD 90.00 million) Property All Risk Insurance (USD 4.50 million) Contractors All Risk Insurance (USD 7.00 million) |
| Insurer (coverage ratio) | Industrial All Risk Insurance: Malayan Insurance (30%), Pioneer Insurance (25%), FPG Insurance (15%), UCPB General Insurance (12.5%), BPI/MS Insurance (12.5%), The Mercantile Insurance (5%) Property All Risk Insurance: FPG Insurance (37%), Charter Ping An Insurance Corp (63%) Contractors All Risk Insurance: AIG Philippines Insurance (100%) |
| Status | In full operation since January 2020. |
Status: 30/09/2021
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