Manila/London, 15. April 2016. ThomasLloyd has laid the foundations for South Negros BioPower, a biomass power plant in the Philippines with output of 25 megawatts (MW). The project, located in the south of the island of Negros, is the second power plant for the investment and advisory firm, specialising in the infrastructure sector in Asia. It is scheduled to begin commercial operation, generating renewable electricity for approximately 265,000 people, by the end of 2017, using the crop residue of the local agricultural sector. After commencement, South Negros BioPower will also create more than 3,000 new, permanent jobs, both at the plant itself and in local agriculture, and will reduce carbon dioxide (CO2) emissions by 85,498 tonnes per annum.
Anthony M. Coveney, Managing Director and Head of Project Finance of ThomasLloyd, explains: “The ground-breaking at South Negros BioPower once again emphasises our company’s sustainable expansion strategy. By further expanding our biomass investments, we are also extending the technology mix of ThomasLloyd’s infrastructure portfolio in Asia.”
The two solar power plants, San Carlos Solar Energy II and III (SaCaSol II and III) have now officially entered commercial operation in the Philippines. SaCaSol II and III form part of a portfolio of solar power plants, with output totalling 125 MW, providing close to 300,000 people with sustainably generated solar electricity. These were developed, in partnership with Bronzeoak Philippines Inc, and financed by ThomasLloyd, and then sold in 2015 to the Philippine Investment Alliance for Infrastructure (PINAI). PINAI is a consortium founded by institutional investors, in order to take advantage of opportunities in the Philippine infrastructure market. These investors include Macquarie Infrastructure and Real Assets (MIRA), the Philippine Government Service Insurance System (GSIS), the Dutch pension fund APG and the Asian Development Bank.
The three ceremonies were attended by a large delegation of European finance experts and investors, numerous representatives from the fields of Asian politics, business and media, the representatives of project partners, and institutional investors.
T.U. Michael Sieg, Chairman and CEO of the ThomasLloyd Group, highlights both the significance of the projects for investors and their regional and social importance: “With our continued expansion of the renewable energies infrastructure in South East Asia, we are not only creating investment opportunities that offer our investors attractive, long term revenue potential, but also creating prospects for the local population and economy on the basis of a reliable, affordable and environmentally friendly electricity supply.”