South Negros BioPower
South Negros BioPower is a biomass power plant project in La Carlota City, Negros Occidental province in the Philippines. The project will construct a biomass power plant using as fuel waste generated from the harvesting and processing of sugarcane, supplemented by grassy and woody energy crops. The South Negros BioPower stand-alone base-load power plant has a gross power generation capacity of 25 MW and generates 185 million kWh annually. This is equivalent to the energy consumption of around 265,000 people in the region.
OVERVIEW
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LOCATION
Philippines
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PROJECT SITE
300,000 ㎡
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CAPACITY
25 MW
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INVESTMENT VOLUME (CAPEX)
103.6 million USD
ESG PROFILE
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CONSTRUCTION JOBS CREATED
(average during construction period) 658 -
NEW PERMANENT JOBS CREATED
646
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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) | 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 | 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 |
| 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, WaterTreatment 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 Negros Occidental Electric Cooperative Inc. (NOCECO) 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 28.2 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 the Bank of Communications 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 54.58 million) and integrated Third Party Liability Insurance (USD 1.5 million) and Delay in Start-Up Insurance (USD 36.44 million) Property All Risk Insurance (USD 3.2 million) Contractors Equipment Insurance (USD 9.44 million) |
| Insurer (coverage ratio) | Transportation Insurance: AIG Philippines Insurance (100%) Contractors All Risk Insurance: QBE Seaboard Insurance Philippines (40%), Pioneer Insurance & Surety Corp (40%), AIG Philippines Insurance (20%) Property All Risk Insurance: PNG General (14%), Charter Ping An Insurance (86%) Contractors Equipment Insurance: AIG Philippines Insurance (100%) |
| Status | In full operation since January 2020. |
Status: 30/09/2021
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