Bronzeoak, Thomas Lloyd start solar power plant expansion

San Carlos Solar Energy Inc. (Sacasol), a joint venture between Bronzeoak Philippines Inc. and European asset management firm Thomas Lloyd Group, is investing $62 million in expanding its first solar power project in Negros island.

Bronzeoak director Don Mario Y. Dia said in a briefing that Sacasol was expanding its first project (called Sacasol 1), which currently has 22MW of solar capacity (built at a cost of about $46 million), with another 23MW that will cost $62 million. In total, Sacasol 1 has a capacity of 45MW.

The company will issue the notice to proceed with its 23-MW expansion on Nov. 3 to Conergy, which is headquartered in Hamburg, Germany, but is privately held and majority owned by Miami based asset management firm Kawa Capital Management, Inc.

The second unit, called Sacasol 2, will have a capacity of 18MW. A third unit, Sacasol 3, is set to be developed with a capacity of 25MW at a later time.

“The high level of support from the community and local government of San Carlos deserves credit for the plant’s quick implementation,” said Jose Maria T. Zabaleta.

The Visayas is seen to have potential for an economic boom but needs infrastructure support, particularly power generating facilities. The Thomas Lloyd Group and Bronzeoak said this created an attractive opportunity for solar development on Negros Island. The San Carlos Ecozone location also happens to be situated at the right coordinates for maximum solar radiation.

Bronzeoak, established in 2003, is a leader in the development and implementation of renewable energy projects in the Philippines, working with a broad range of international partners and investors for its ventures.

It has gathered vast experience through successful clean energy production and in 2006, completed the first sugarcane, ethanol and power cogeneration plant in Asia.

Since then, the company has expanded by developing several new renewable energy power plants to help achieve the country’s goals of energy independence and sustainability.

Bronzeoak has further diversified its business by pursuing other renewable technologies and continues to develop projects beyond the biomass sector and traditional sphere of the industry.

Thomas Lloyd is a leading global investment banking and investment management group, solely dedicated to the renewable energy sector in Asia.

The company portfolio includes Capital Raising, M&A and Corporate Finance for private and public companies, as well as project financing and management for project developers, and asset management, wealth management and funds for private customers and institutional investors.

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Renewable energy subsidy OKd

The feed-in-tariff scheme created to grant incentives to renewable energy (RE) projects is now set for implementation, as the Energy Regulatory Commission approved the FIT allowance application of fund administrator National Transmission Corp., or Transco.

The ERC provisionally approved the rate of P0.0406 per kilowatt-hour (kWh) in FIT allowance for 2014 and 2015, which will be paid by all consumers.

In July, state-owned Transco, the administrator of the fund created from FIT collections, had submitted the application to the ERC.

The FIT-All charge will become another line item in the electricity bill, similar to the universal charge (which covers levies for missionary electrification in off-grid areas. Collectors such as Wholesale Electricity Spot Market and distribution utilities will remit the collections to the FIT-All fund to be administered by Transco through a state-owned bank.

The FIT-All charge will start appearing in electricity bills in January next year.

Currently, Transco wants Land Bank of the Philippines to be the host bank for the FIT-All.

Initially, the application with ERC was for 2014 and 2015 and the rate to be collected would be the average rate for the two years. This is to spread the impact over a longer period and ensure the rate will be as low as possible, NREB vice chairperson Ernesto B. Pantangco said. NREB endorsed Transco’s application for FIT-All.

From 2016 onward, the FIT-All fund will be set on an annual basis based on, among others: projected annual electricity sales, estimated required revenue of eligible RE plants, over- or under-recoveries in previous years, and administration costs.

In its petition, Transco said the granting of the provisional authority would allow it to pay the FIT rate to renewable energy developers on time, “thereby allowing their continued operations.”

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More int’l shipping lines calling on Subic Port

Subic port. FILE PHOTO

More shipping lines operating within Southeast Asia have expressed interest to use the Subic Port to move containerized and bulk cargo shipments, the Subic Bay Metropolitan Authority (SBMA) said Thursday.

In a statement, the SBMA said that the commercial vessel MV Sicilia recently arrived at the Subic port.

Three more foreign container ships are expected to arrive and unload at the port within the next few weeks.

SBMA chair Roberto Garcia said in the statement that the container ship MV Sicilia made its maiden voyage on the Xiamen-Subic route recently and unloaded its cargo at the New Container Terminal (NCT) 2.

“The arrival of Sicilia on her maiden voyage to Subic Bay may be a precursor of more good times to come,” Garcia said.

The MV Sicilia, a 927-ton Liberian flag container ship with 21 crewmen and officers, sailed to Manila and then to Subic Bay from Xiamen, China.

The vessel is owned by China-based SITC Container Lines Philippines Inc.

Sicilia unloaded products from Guangxi, Sichuan and Shanghai, all in China, for Orica Philippines in Limay, Bataan; Nestle Philippines Inc. in Cabuyao, Laguna; and Manila World Transport Inc. in Metro Manila, respectively, bringing in 22 containers.

In the same statement, SBMA Seaport Dept. general manager Jerome Martinez said that aside from MV Sicilia, three more foreign container ships would be arriving in Subic direct from their port of departure.

These container ships were not diverted from the Port of Manila as a result of port congestion.

These ships intentionally made the Subic port part of their itinerary, Martinez said.

Another shipping company, the NYK Line, is also seriously thinking of establishing a Subic-Singapore route as Singapore will be opening Europe, Africa and Middle East to exporters and importers.

Garcia earlier reported that there was a proposal for a Shanghai-Subic route so that ships would no longer pass through Kaohsiung.

With more ships calling on Subic, which used to be an American naval facility, Garcia hoped that the cargo volume at the Subic’s container port would almost double to 70,000 twenty-foot equivalent units (TEUs) from only 38,000 TEUs in 2013.

In preparation for the expected increase in traffic flow at the freeport, the SBMA recently hosted a “Traffic Safety Forum,” aimed at finding ways to prevent traffic build-up along the main route taken by cargo trucks at the freeport.

Subic is the only port on the Western seaboard of the Philippines that can accept a sizable volume of containers.

The Subic port and the Port of Batangas were recently declared as extensions of the Port of Manila under Executive Order 172.

To help entice more shipping lines to use Subic, the SBMA cut its port fees starting Oct. 1, even if this would result in losses of about $10 million to $15 million for the state agency.

These losses represent the difference between the current harbor and berthing fees and the new and reduced rates that will be in effect for six months starting November.

The SBMA reduced the harbor fee at Subic’s new container terminal (NCT) to just $0.008 per gross register tonnage (GRT) from the current $0.046 per GRT. The berthing fee was also reduced to only $0.004 per GRT a day, from the current $0.0345 per GRT a day.

At the end of six months, the rates for both the Subic and Batangas extension ports will increase to $0.041 for the harbor fees and $0.02 for berthing fees.

These fees, however, will still be lower than the regular rates.

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Global networking firm puts up unit in PH

Business Network International, the largest business networking organization in the world, has set up a Philippine chapter to help local small and medium-sized enterprises (SMEs) grow their respective businesses through a referral marketing system.

Such a system has been proven to be effective as the 170,000 members of BNI across 55 countries were able to generate a total of 5.4 million referrals that resulted in $6.5 billion worth of sales.

“SMEs account for 99.6 percent of the total registered enterprises in the country. We are determined in helping the Philippines encourage the growth of small businesses. BNI is targeting SMEs to become members, many of them having limited resources in growing their businesses,” said Edward Ling, co-national director of BNI Philippines.

BNI Philippines, which began operations this year, sees growth opportunities mainly in retail, manufacturing, wellness, and professional services like management consulting, accounting and medical.

This one-stop marketing network currently has two chapters in Makati (Genesis chapter) and Ortigas (Pioneer chapter), which have 70 members. The target is to have six chapters by the end of the year, and about 10,000 members in seven years, Ling said.

For this year alone, sales from referrals among BNI Philippines members are expected to reach at least $10 million.

Joining BNI Philippines, which would entail a membership fee of P24,000 yearly, will enable members to have access to a larger marketing team; enjoy exclusive marketing rights; access the channel of continuous source of new business; be part of a network that expands business and enjoy long lasting business relationships.

“BNI provides a structured networking system for giving and receiving business referrals. The BNI’s Referral Education Program is more about farming than hunting. Members joining BI share ideas, contacts, networks, and business referrals. Being a member of the BNI is like having sales people working for you everyday to market your product or services. It provides an environment where members build and sustain long term relationships based on trust,” Ling explained.

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Ayala raises P13.5B via shares sale

Conglomerate Ayala Corp. raised P13.5 billion through the sale of preferred shares, with proceeds to be used to refinance debts as the company seeks to expand its infrastructure and power portfolios.

The company said in a regulatory filing that it sold 20 million preferred shares at P500 per share, raising P10 billion from the base offer.

It exercised part of the oversubscription option to raise another P3.5 billion from excess demand. Ayala had regulatory approval to raise as much as P15 billion.

The company earlier disclosed that the interest rate would be based on either the five-year or seven-year local interest rate PDST-R2 benchmark plus a spread. The shares have an indicative annual dividend rate of 4.85 to 5.35 percent and 5.05 to 5.55 percent, respectively.

Ayala also has the option to redeem the shares during the rate setting date and on any quarterly dividend payment date “on and after the 10th year anniversary.”

The company’s debts amount to about P12.95 billion and owed to lenders including Metropolitan Bank & Trust Co. and BDO Unibank. The debts mature from October 2014 through November 2019, its filing with the Securities and Exchange Commission showed.

Ayala, through a partnership with Manuel V. Pangilinan-led Metro Pacific Investments Corp., last month won the P65-billion Light Rail Transit Line 1 Cavite extension project under the public private partnership framework.

Ayala said it was keen on bidding for other projects in the PPP Center’s pipeline.

It recently acquired bid documents for theP122.8-billion Laguna Lakeshore Expressway Dike deal and the operations and maintenance contract for LRT-2.

The conglomerate, together with a unit of Aboitiz Equity Ventures Inc., is awaiting President Aquino’s decision over the Cavite Laguna Expressway PPP. The deal was stalled after disqualified San Miguel Corp. sought Aquino’s intervention.

Ayala Corp., which is also involved in real estate, water supply, telecommunications and banking, reported last August that its net profit in the first half rose by 34 percent year-on-year to P9.8 billion.

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Greenpeace anti-GMO suit junked

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BANGKOK, Thailand – After more than a decade of court battles, Thailand’s Supreme Administrative Court last week dismissed the lawsuit filed by Greenpeace that sought to stop government’s demonstration plots for genetically modified (GM) papaya.

The verdict upheld the 2008 Central Administrative Court’s ruling that the Department of Agriculture had taken necessary steps to curb widespread use of GMO plants.

In 2006, Greenpeace filed a lawsuit against the DOA for alleged negligence in testing GM papaya at its research site in Khon Kaen province in 2004.

In 2008, the Central Administrative Court ruled that the DOA was not guilty of the charges filed by Greenpeace.

Greenpeace has threatened to call on the Thai government to cancel state support for GMO field trials in the country.

The move follows the Agriculture and Cooperatives Ministry’s recent announcement that it was looking to conduct a feasibility study to improve four economic crops, namely, maize, cassava, palm and sugar cane and will consider GMO options to boost production.

The DOA’s Biotechnology Research and Development Office chief Alongkorn Konthong is reportedly planning to ask the National Council for Peace and Order to lift the Thai Cabinet’s Resolution 2007 banning GMO field trials anywhere but on government land. ANN

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Mindanao ready to showcase its quality coffee to the world

MINDANAO now accounts for as much as 70 percent of the country’s total coffee production and it is ready to produce even more.

Think about the heady aroma of coffee and what will likely come to mind immediately is Batangas or Cavite when thinking about where it comes from in the Philippines.

That may have been true during the Spanish period, but not anymore, for the bulk of the coffee produced in the Philippines now comes all the way from the island of Mindanao, the country’s second largest island after Luzon.

In fact, Mindanao now accounts for as much as 70 percent of the country’s total coffee production and it is ready to produce even more.

This was made apparent during the recently held National Coffee Summit spearheaded by the Philippine Coffee Board Inc., a non-profit organization set up to promote local coffee production and boost incomes of farmers all over the country.

During the well-attended summit, government leaders such as South Cotabato Governor Daisy Avance Fuentes offered the province to investors, and gave the crowd a rundown of the reasons why it was a great idea to invest in her province.

Polomolok, the so-called town that pineapple made, was likewise offered as a potential investment site by Mayor Honey Lumayag-Matti.

She said there were incentives available to entrepreneurs who want to set up coffee-based businesses in her town of 23 barangays and 200,000 people.

Both local executives assured potential investors of their safety and security considering how large businesses have long been operating in the province with little difficulty.

They also spoke of the easy accessibility to the province through the modern General Santos City airport.

Coffee grows particularly well on Mt. Matutum, which straddles the provinces of Sarangani and South Cotabato.

The microclimate there is deemed perfect for growing specialty Arabica, the variety sought by local and foreign coffee buyers because of its fine taste and sweet aroma.

Aside from the growers and farmers, the annual summit also featured technical experts like Dr. Dave D’Haeze, a specialist in Robusta coffee, who shared his experience in Vietnam.

MINDANAO now accounts for as much as 70 percent of the country’s total coffee production and it is ready to produce even more.

Vietnam is now the second largest producer of coffee, after Brazil.

Dr. D’Haeze visited local farms and assured the coffee investors that the soil and climate in Mindanao were perfect for producing quality coffee that would find ready markets here and abroad.

In the area of Arabica coffee, there is great potential to find in Mindanao more cupping contest winners, like the Kapatagan Arabicas that won during the Roasters Guild contest in Thailand last April.

Philippine coffees won two awards, just behind Indonesia, the world’s fourth largest coffee exporter.

The high scores given by international judges to the local coffee raised hopes that Mindanao can produce even more quality coffee, given the right government and private sector support.

Today, sadly, the Philippines produces only 22,000 metric tons of coffee at best, with only 10 percent qualified as specialty grade.

The numbers may be disappointing, but there are many reasons to be encouraged.

At the end of the coffee summit, every potential investor who attended was convinced of the viability of investing in coffee farming and processing in Mindanao.

There is, indeed, money to be made in Mindanao’s growing coffee sector.

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