Bronzeoak to complete $500M worth of renewable energy projects 2017, says ThomasLloyd

2013-10-07

GMA News Online

Bronzeoak Philippines Inc., a bioenergy developer, will complete $500 million worth of clean energy projects in 2017, adding 100 megawatts (MW) to the Philippine grid, its financier said Monday.   The projects are funded by ThomasLloyd, a European asset management and project finance group that investments especially in Asia renewable energy developments.   Under the ThomasLloyd Cleantech Infrastructure Fund, the company already invested $82 million in its Philippine portfolio, and is committed to invest $130 million more in the next two years.  

Bronzeoak, ThomasLloyd to build P4-B biomass plant

2014-11-02

RITCHIE A. HORARIO

British Chamber of Commerce Philippines

BRONZEOAK Philippines and the ThomasLloyd Group announced they will jointly develop the 20-megawatt (MW) San Carlos biomass power project in Negros Occidental at a cost of $90 million (P4 billion). Don Mario Dia, Bronzeoak director, said that construction of the project will begin in April. The biomass power project will take 24 months to complete. “The board has approved SCBiopower (San Carlos biomass power project), the structure is now complete,” Dia told reporters. The biomass plant will be built alongside the existing San Carlos Bionergy ethanol facility in Negros Occidental that is also owned by Bronzeoak.

Three Negros biomass plants ready in 2019

2018-09-09

Alena Mae S. Flores

Three Negros biomass plants ready in 2019

Three biomass power plants of Negros Island Biomass Holdings Inc. with a combined capacity of 70 megawatts and costing around $160 million are expected to be completed next year. Negros Island Biomass treasurer Don Dia said the group aimed to beat and avail of the extended deadline for feed-in tariff for biomass in 2019. Dia said the 20-MW biomass project of San Carlos Power Biopower Inc. in San Carlos City in Negros Occidental city was set for completion and commissioning within the year. The 25-MW station of North Negros Biopower Inc. in Manapla town and 25-MW facility of South Negros Biopower Inc. in La Carlota City, meanwhile, are to be completed in 2019.

INTO THE FUTURE - Ayala Integrated Report 2017

2017-01-01

AC Energy acquires 100 percent ownership of Bronzeoak’s development platform, for renewable energy development, management, and operations

Philippines biomass industry receives $161 million funding boost

2016-08-22

The International Finance Corporation (IFC), a member of the World Bank Group, the government of Canada and the Clean Technology Fund will make a $161 million (€146.3m) joint investment in 70MW of biomass power capacity in the Philippines. In a statement, IFC said that the financing will be mobilised under the IFC-Canada Climate Change Programme and the Managed Co-Lending Portfolio Programme.

2017-01-01

Bronzeoak

In 2013, Bronzeoak expanded beyond its core expertise of biomass energy and ventured into solar power. Together with Thomas Lloyd, its German partner, Bronzeoak began construction on the country's first utility scale solar farm, a 22 MW facility that was inaugurated by H.E. President Benigno S. Aquino III in May of 2014. Since its commissioning, San Carlos Solar Energy (SaCaSol) has paved the way for solar energy in the Philippines. SaCaSol became the first renewable energy project in the Philippines to qualify for the Feed-in-Tariff (FIT) system created by the RE Act of 2008, spurring the growth of a new industry. Bronzeoak has developed over 200 MW of solar projects, all built and operational with multiple local and international partners.

UK-based clean energy firm that co-founded Bronzeoak PH. Brought technical expertise in biomass/ethanol. Acquired by ThomasLloyd Group a few years prior, making ThomasLloyd the ultimate parent investor in these projects

Principal financial partner. A global investment firm focusing on renewable infrastructure. Through the ThomasLloyd Cleantech Infrastructure Fund, it financed these projects, spending ~$82 M by 2013 and committing $130 M more. Took equity stakes in the biomass SPVs and arranged debt. ThomasLloyd effectively provided the bulk of project funding and oversaw financial close.

2013-10-07

The umbrella holding entity for the three Negros BioPower companies. Initially owned by Bronzeoak/ThomasLloyd; in 2017 Ayala’s AC Energy bought into it (minority stake). In 2021, AC Energy’s unit divested its shares (likely selling back to ThomasLloyd or other investors)

Took over Bronzeoak PH in 2017. Ayala Corporation’s energy arm. It acquired Bronzeoak’s development arm (renamed AC Energy DevCo) in early 2017, thereby inheriting involvement in these biomass projects. AC Energy held 2% of San Carlos BioPower and a minority stake in South Negros BioPower. Ayala eventually decided to focus on solar/wind; by 2021 it exited, selling its biomass stakes (NIBHI divestment).

Negros-based agro-industrial family (Jose Maria Zabaleta Sr. and Jr.). Contributed local business network, possibly land (from their haciendas) and capital. Owns a share of Bronzeoak PH. Helped integrate farmers into supply chain

IFC led a joint financing package in 2016 for the 3 Negros plants. Funds came under IFC’s Climate Change Program (with Canada and CTF). IFC’s loan provided long-term project debt, catalyzing completion of the 70 MW portfolio.

2016-08-01

Through the IFC-Canada Climate Change Program and the Clean Technology Fund, Canada co-invested in the project debt. These funds supported construction, reflecting the project’s low-carbon development benefits.

2016-08-01

Chinese engineering firm hired to design/build the first plants. Constructed initial works for San Carlos and South Negros, but contract was terminated before completion.

2016-01-01

Pöyry (now AFRY), a Finnish firm that took over EPC duties after Wuxi. Pöyry completed all three plants by 2019.