World Bank Invests In Biomass Power Plants (Image from https://www.linkedin.com/company/biomass-power-ltd)

World Bank Invests In Biomass Power Plants

In the Philippines, three biomass power plants are being built in Negros Occidental from a $161-million investment from IFC, a member of the World Bank Group. The projects are being support by the Canadian government and the Clean Technology Fund and is expect to generate 70 megawatts of clean renewable energy for the country.

World Bank Invests In Biomass Power Plants (Image from https://www.linkedin.com/company/biomass-power-ltd)
World Bank Invests In Biomass Power Plants (Image from https://www.linkedin.com/company/biomass-power-ltd)

The plants will convert sugarcane waste to electricity using a low carbon-emitting process called circulating fluidized bed boiler technology. Sugarcane waste was previously burned in the fields, contributing to air pollution, prior to the discovery that it could be used as fuel in biomass power plants.

According to IFC country manager, Yuan Xu, the project’s goal is to further diversify and secure its energy sources. “Converting agricultural waste to biomass power is a sustainable way of creating economic value while caring for the environment,” he said.

Canada has contributed CA$271 million to the program thus far in an effort to enable climate change investments that are generating significant environmental and economic benefits in developing countries. Catherine McKenna, Canada’s minister of environment and climate change voiced their motivation.

“We are pleased to support innovative projects abroad that help reduce global greenhouse gases,” she said. “Through our partnership with the IFC, Canada will deliver funds that will enable the growth of renewable energy while supporting the creation of green jobs.”

IFC is also receiving funding from the Managed Co-Lending Portfolio Program in addition to loans from Canada and the Clean Technology Fund. The three power plants are expected to qualify for the biomass feed-in-tariff of the Energy Regulatory Commission. Energy producers with up to 250mW of biomass generating capacity qualify for the tariff.

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