South Negros BioPower
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Project details
| Project Special Purpose Vehicle (SPV) | South Negros Biopower Inc. |
|---|---|
| Location | Agro-Industrial Land, National Highway, Barangay Cubay, La Carlota City, Province of Negros Occidental, Philippines Coordinates: 10 25 23.32 N, 122 56 13.11 E |
| Technical Specifications | Project site: 300,000 m² Feedstock type: primarily cane trash Feedstock utilisation: 244,000 tonnes per year Feedstock availability: 1,4 million tonnes per year of biomass are available within a 50 km-radius catchment area Grid connection: to the existing 69 kV substation in San Enrique, 8 km away |
| Reach of Electricity Supply | 265,000 people |
| New permanent jobs | 675 in the plant / 2,500 in feedstock production and collection |
| Supplier/Manufacturer | Boiler: Jinan Boiler Group Company Ltd (China) Steam Turbine: Siemens (India) Generator: Siemens (India) 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 (EPCM) | Poyry Energy Inc. |
| Operations & Maintenance | Poyry 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 (PPA) | 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. |
| Status | Under construction since Q2 2016. |
| Commercial Operations Date (COD) based on EPC contract | Q4 2019 |
Status: 31/12/2019