We’ve been waiting for the right opportunity and with the passing of the renewable energy law, we feel that now is the right time, said David de Montaigne, Global Green Power president.
The cost required to build each biomass power plant will be $40 million. A fourth biomass plant will be built in Negros Island by 2010. These power plants will have generating capacity of around 30 MW of power. Only half of the capacity will be produced at start-up.
In addition to these biomass power plants, Global Green Power intends to set up 12 biomass power plants around the country which can generate a total of 360 MW of power. The primary proposal is to build three to four plants per year. The company projects to produce around 900 local jobs for each new plant.
Montaigne has reported that the company’s wind energy projects are waiting for the Energy Regulatory Commission’s rules on feed-in tariffs, which will give assurance a fixed price of electricity to be purchased from renewable energy sources for 12 years.
Global Green Power is 40% owned by the Global Green Power PLC.
