Filipino firm plans $185m biomass investment
Asea One Power is to invest around $185 million (€137 million) over a five year period to build 60MW of biomass power plant capacity across the Philippines.
It has been reported that the company would start with a $37 million, 12MW biomass-fired project in Banga, Aklan and hired an EPC contractor in June. The plant will use rice husks and straws as feedstock, in addition to woody biomass.
Site development could begin later this year and has a construction cycle of 18 to 22 months. National Transmission Corp. will acquire the renewable electricity under a power purchase agreement.
In addition to this site, Asea is also said to be eyeing locations in Iloilo, Luzon or Mindanao for the development of a $90 million 30MW biomass-fired power plant.
The company said it may consider solar projects in the future.