16 DECEMBER 2008
Green Power Panay Philippines Inc (GPPPI) signed 25-year Electricity Supply Agreements:
On the same day Her Excellency Philippine President Gloria Macapagal Arroyo signed the Renewable Energy Bill into existence after two decades of development, Green Power Panay Philippines Inc. (GPPPI) signed 25-year Electricity Supply Agreements (ESA) with ILECO I and ILECO II of Panay Island. The first two ESAs signed upon execution of the RE Bill. The ESA’s were awarded to GPPPI after their participation in the Panay Guimaras Power Supply Consortium (a consortium of all Panay Electric Cooperatives), request for competitive offers in August 2008.
The ESA’s will be supported by the GPPPI Biomass Power plant currently under development on their 5-hectare site in Mina on the Island of Panay. The first stage of the Mina power plant will be a 15 MW biomass power plant producing environmentally sound, renewable, cost effective energy from biomass. The power plant is expected to inject PHP 200 Million per year (PHP 9 Billion over the 25-year contract) into the local community through the collection and use of agricultural residuals that are currently burnt in the fields causing severe damage to the environment and contributing to climate change.
