Victorias City, Negros Occidental―Victorias Milling Company Inc. allocated P2 billion for a 40-megawatt co-generation biomass power plant. Construction of the power plant is ongoing and commercial operations are expected by September 2017. Under the Renewable Energy Law, renewable energy projects are given incentives under FIT. Biomass projects that qualified under FIT would have a fixed per kilowatt-hour rate of P6.63 for at least 20 years. Concepcion said the company was also looking at constructing phase 2 of the power plant.

Source: The Standard January 24, 2017 13:37 UTC