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German Investors Consider Renewable Energy in the Philippines

German Investors Consider Renewable Energy in the Philippines

A Swiss-German investor conglomerate Thomas Lloyd Investments Group has expressed interest to invest in the Philippines’ in partnership with Bronzeoak Philippines in Negros Occidental, a province of the Philippines located in the Western Visayas region, to generate renewable energy.

During a recent investment gathering Negros Occidental Governor Alfredo Maranon 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,” Bacolod’s Sun Star newspaper reported.

Maranon added, “As such, there is enough room for partner-investors, including your company, to come in. (But) we are not only open to investments; we are inviting you to experience what we have to offer.”

Bronzeoak Philippines chairman Jose Maria Zabaleta riposted, “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.”

Thomas Lloyd Investments Group reportedly is interested in partnering with Bronzeoak Philippines in the San Carlos BioPower 18 megawatt project, scheduled to come online in 2013.

By. Joao Peixe, Deputy Editor OilPrice.com



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