Global Green Power Plc Corp. is to invest $200 million in five biomass projects that will supply 87.5 MW of power in five areas in the Philippines.

 

The investment is part of $1 billion Global Green is to invest in the Philippine renewable energy projects such as wind, geothermal, hydro, biogas, solar and ocean, over the long-term, according to Manila Standard Today.

 

The company is to build the biomass plants in Panay, Nueva Ecija, Pangasinan and Samar near the source.

 

Each biomass plant will produce 17.5 MW of power and is estimated to cost about $40 million to build.

 

Global Green, composed of Filipino and UK investors, is working with Land Bank of the Philippines and other banks to finance the plants’ construction, the Manial Standard Today says.