A group of Swiss-German investors expressed interest to invest in Negros Occidental, particularly on renewable energy.
Governor Alfredo Marañon Jr., who hosted a fellowship dinner for the 18-member Thomas Lloyd Investments Group led by chairman and CEO T.U. Michael Sieg, said: “There is potential for investment in this field because, based on the survey of the Department of Energy, the Visayas Grid alone needs an additional 2,100 megawatts until 2030.”
“At present, a big chunk of our power is provided by geothermal sources, which accounts for 64 percent, followed by oil and coal,” Marañon added in his presentation Monday night at the Capitol.
The governor also said the province could offer, not only with regard potential investments but also in the areas of tourism, culture and other industries.
He stressed that existing biomass power source, of which the foreign visitors were particularly interested in, is barely one percent of the generation mix.
“As such, there is enough room for partner-investors, including your company, to come in,” Marañon told the visitors. “(But) we are not only open to investments; we are inviting you to experience what we have to offer.”
A third-time visitor to the province, Sieg thanked the governor and other provincial and local officials for the warm welcome as he expressed optimism that the company could indeed be the province’s partner in renewable energy venture.
The company is reportedly initially targeting investing in the first power plant in San Carlos City in partnership with Bronzeoak Philippines in a project dubbed the San Carlos BioPower, an 18MW biomass plant scheduled for operation two to three years from now.
Around $40-million investment is needed for the project “that is envisioned to provide employment to residents with multiplier effects in terms of increased economic activities, employment generation and improvement in the provision of basic services.”
Two more areas in Negros Occidental are also being eyed by the Thomas Lloyd Group, Bronzeoak chairman Jose Maria Zabaleta, who invited Sieg and company to the province, told Sun.Star Bacolod.
“The best place to go to invest in renewable energy is Negros Occidental because the resources are here – wind, water, solar – yet the cost of power is still very expensive,” Zabaleta added.
