Latest posts by Stock Signals Philippines (see all)
- SCC Garners a Net Profit of 14.14 Billion Pesos in 2017 - February 24, 2018
- Two Hikes for Policy Rates Foreseen This 2018 - February 23, 2018
- Investment Pledges by Foreign Firms in 2017 Dropped by 51.8% - February 23, 2018
MANILA, Philippines – Global Business Power Corp. (GBPC) sets sights on pursuing more projects for waste-to-energy of at least 55 megawatts (MW) in Batangas and Bacolod.
GBPC is owned largely by Metro Pacific Investments Corp. (MPIC), which is led by Manual Pangilinan as Chairman. In partnership with George Ty’s GT Capital Holdings Inc., MPIC acquired GBPC’s majority stake by 56 percent that is equivalent to P22.06 billion last May.
Pangilinan stated that GBPC is looking into Visayas-centered projects for alternative energy. The use of municipal waste for energy through a process similar to sugar mills was highlighted.
Sugar mills in Batangas and Bacolod are targeted opportunities for waste-to-energy projects. The sugar mill in Batangas is bigger and produces at least 35 MW. On the other hand, Bacolod’s two sugar mills are smaller and can only generate up to 25 MW.
At present, Roxas Holdings Inc. (RHI) sugar mill partnership is one of GBPC’s ongoing projects. The facility is working on 40 MW, which will be placed in Central Azucarera de la Carlota Inc. The RHI facility is designed by Pöyry Energy Inc., a consulting and engineering Finnish firm.
By the third quarter of 2017, the project is expected to finish with 250 MW allocation target and P6.63 per kilowatt hour (kwh) under the feed-in tariff (FIT) rate for biomass.
In 2021, GBPC is eyeing on increasing its capacity of coal and diesel power plants-generated 852 MW by 200%. This goal would be achieved by Luzon’s first power plant, La Union coal plant, which can provide as much as 670 MW.