Bronzeoak Philippines Inc. #35183
Created at
2014-04-28
Last update
2025-08-28
10 Parents (Involvements as child)
ID
Name
Zabaleta & Co
Country of registration/origin
Philippines
Classification
Private company
Relationship
Parent company
ID
Name
Bronzeoak Group
Country of registration/origin
United Kingdom of Great Britain and Northern Ireland
Classification
Private company
Relationship
Parent company
Investment type
Shares/Equity
Comment
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
ID
Name
ThomasLloyd CTI Asia Holdings Pte Ltd
Country of registration/origin
Singapore
Classification
Private company
Relationship
Parent company
Parent relation
Joint venture of parent companies
Investment type
Shares/Equity, Debt financing
Loan amount
130 000 000
$
Loan date
2013-10-07
Comment
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.
ID
Name
Negros Biomass Holdings, Inc.
Country of registration/origin
Philippines
Classification
Private company
Relationship
Parent company
Parent relation
Joint venture of parent companies
Investment type
Shares/Equity
Comment
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)
ID
Name
AC Energy Corporation (ACEN)
Country of registration/origin
Philippines
Classification
Stock-exchange listed company
Relationship
Parent company
Parent relation
Joint venture of parent companies
Investment type
Shares/Equity
Comment
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).
Draft
ID
Name
Zabaleta & Co.
Country of registration/origin
Philippines
Classification
Individual entrepreneur
Relationship
Tertiary investor/lender
Investment type
Shares/Equity
Comment
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
ID
Name
International Finance Corporation (IFC)
Country of registration/origin
United States of America
Classification
Multilateral Development Bank (MDB)
Relationship
Tertiary investor/lender
Parent relation
Joint venture of parent companies
Investment type
Debt financing
Loan amount
161 000 000
$
Loan date
2016-08-01
Comment
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.
ID
Name
Clean Technology Fund (CTF)
Country of registration/origin
United States of America
Classification
Investment fund
Relationship
Tertiary investor/lender
Parent relation
Joint venture of parent companies
Investment type
Debt financing
Loan date
2016-08-01
Comment
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.
Draft
ID
Name
Wuxi Huaguang Corp.
Country of registration/origin
China
Classification
Asset management firm
Relationship
Tertiary investor/lender
Loan date
2016-01-01
Comment
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.
Draft
ID
Name
AFRY
Country of registration/origin
Finland
Classification
Asset management firm
Relationship
Tertiary investor/lender
Comment
Pöyry (now AFRY), a Finnish firm that took over EPC duties after Wuxi. Pöyry completed all three plants by 2019.
2 Children (Involvements as parent)
ID
Name
South Bukidnon Bioenergy Inc.
Country of registration/origin
Philippines
Relationship
Subsidiary company
ID
Name
Monte Solar Energy Inc. (MonteSol)
Country of registration/origin
Philippines
Classification
Private company
Relationship
Subsidiary company
Parent relation
Joint venture of parent companies
Investment type
Shares/Equity
2 Deals (Involvements as Operating company)
ID
Target country
Philippines
Current intention of investment
Biomass for biofuels Food crops Renewable energy unspecified
Current negotiation status
Concluded (Contract signed)
Current implementation status
Project abandoned
Deal size
9 000 ha
ID
Target country
Philippines
Current intention of investment
Biomass for biofuels Biomass for energy generation (agriculture)
Current negotiation status
Concluded (Contract signed)
Current implementation status
In operation (production)
Deal size
85 ha