The World Bank’s International Finance Corporation (IFC), the Canadian government and the Clean Technology Fund will invest $161m in three biomass power plants in the Philippines.
The projects, with a combined capacity of 70MW, are being built in the towns of Manapla, San Carlos and La Carlota in Negros island.
Local company Bronzeoak Philippines is developing the projects with support from ThomasLloyd while WBE International Green Energy provides engineering and construction services, the IFC said.
The facilities will convert sugarcane waste to electricity using a low carbon-emitting process called circulating fluidized bed boiler technology.
They are expected to qualify for the biomass feed-in-tariff of the Philippine Energy Regulatory Commission.
“We are happy to receive this support from IFC and the development partners,” Bronzeoak chief executive Jose Maria Zabaleta said.
“This funding will help utilize agricultural waste to generate reliable base load power, providing additional income to farmers, reducing fertilizer costs, and helping contribute to a healthful ecology.”
Image: Bronzeoak
