Month: November 2013

CAGAYAN DE ORO — Preparations for the 8th National Oil Palm Congress on April 18-19, 2013, has reached fever pitch as A Brown Company, Inc., through its subsidiary A Brown Energy Resources Development Inc. (ABERDI), which host this year’s event, is gunning for a successful gathering of key players of the oil palm industry here and abroad.

With the theme: “Utilizing unproductive lands and promoting economic stability thru investments in the palm oil industry,” the two-day national event is being organized by the Philippine Palmoil Development Council, Inc. (PPDCI). It will be held at the posh Xavier Sports and Country Club, Xavier Estates, Cagayan de Oro.

The Congress is co-sponsored by the Local Government of Cagayan de Oro, A Brown Energy and Resources Development Inc., Anco Products Inc. (API) Group of Companies, Kenram Industrial & Development, Inc. (KIDI), Filipinas Palm Oil Plantation Inc. (FPPI), Land Bank of the Philippines (LBP), Department of Agriculture (DA) and other major industry players, with the support of the Department of Trade and Industry (DTI), Regional Board of Investments (RBOI), Department of Trade and Industry (DTI), Philippine Coconut Authority – Palm Oil Development Office (PCA–PODO), Department of Tourism (DOT), (Department of Environment and Natural Resources (DENR) and other stakeholders.

Updates on the Philippine palm oil industry, development initiatives, technological advances, banking support, local and international trends and prospects among others will be discussed during the congress.

Robertino E. Pizarro, newly-elected president of PPDCI, said expected to attend are some 500 key players in the palm oil industry, including representatives from leading palm oil producers Indonesia, Thailand, Papua New Guinea, Costa Rica and Singapore.

Also invited were government agencies involved in the development of the palm oil industry, supply chain players, the business community as well as local government units and other support organizations, Pizarro said.

ABERDI operates a 1,500-hectare palm oil plantation in Kalabugao, Impasug-ong, Bukidnon and Tingalan, Opol, Misamis Oriental and soon in Tignapoloan, Cagayan de Oro City.

ABERDI also operates a 10-tonner crude palm oil plant in Impasug-ong, Bukidnon. By June this year, the 50-tonner palm oil refinery plant will be operational and is expected to produce 1,000 metric tons of palm oil per month.

Source: https://www.businessweekmindanao.com/2013/04/17/a-brown-hosts-national-palm-oil-congress-2/

In line with Palm Concepcion Power Corporation’s (PCPC) Social Development Program for the 135MW Coal-fired power plant project in Barangay Nipa, Concepcion, Iloilo, a community based tree planting activity was organized by the company in partnership with the Department of Environment and Natural Resources (DENR) Region VI, the Province of Iloilo, the Municipality of Concepcion and the Puntales Producer’s Cooperative.

In a simply ceremony held on April 19, 2013 at PCPC’s project site grounds, the project Green Program for Active Reforestation and Conservation (Green P.A.R.C.) was launched by the company. PCPC President, Mr. Roel Z. Castro said in his introduction, ‘This project aims to contribute to the expansion of Mount Apitong forest near the power plant site with an initial area of five (5) hectares as identified by DENR Region VI.”

“We will be maintaining a nursery of seedlings to continuously populate the trees in the impacted areas of the Coal-Fired Power Plant project and further contribute to the restoration and conservation of identified mangrove areas by the DENR in the Province of Iloilo”, he added.

PCPC Chairman, Dr. Walter W. Brown, is present in the said activity to show his full support for the project.

“We would like to continuously help in restoring the environmental and economic benefits that the forest provides to the community through this project”, he said.

To supplement PCPC seedling requirements, the Province of Iloilo donated appropriate seedlings for the planting site.  The Province of Iloilo was represented by Dr. Raul N. Banias, Provincial Administrator, who handed over the seedlings to Dr. Brown and Mr. Castro in a ceremonial turn-over during the program.

The Municipality of Concepcion led by Honorable Mayor Milliard Villanueva, was in full force showing that they are one with the company and the community in this pro-environment undertaking.

Volunteers from the host barangay and the partner local government units took time out to participate in this endeavour showing that the program served as a vehicle to strengthen and unify the local community.

PCPC recognizes the need to maintain a healthier ecosystem for the host community and the province as a whole through the reforestation and conservation of the environment especially in the areas affected by the power plant project.

This coal-fired power plant project which was launched last January 15, with a ground breaking ceremony in Barangay Nipa, Concepcion, Iloilo, will use the circulating fluidized bed combustion (CFBC) technology and will be one of the most advanced and most fuel-efficient plant in the Visayas. PCPC/IMT

Source: https://www.iloilometropolitantimes.com/palm-concepcion-launches-green-parc-project/

MANILA, Philippines—Publicly listed A Brown Co. Inc. plans to put up 12 power projects that will generate a total of 110 megawatts of “peak” capacity for electricity-starved Mindanao.

The projects are expected to provide much-needed additional power supply for the so-called A+ or green-rated electric cooperatives in Mindanao, the company said in a regulatory filing Monday.

According to A Brown, its unit Peakpower Energy Inc. will implement the 12 projects, under separate “build-operate-maintain and transfer agreements for brand-new bunker-fired engines, which will last for 15 years.”

The projects will have a short gestation under a take or pay arrangement on the capital expenditure, and will have direct connection to the grid.

A Brown explained that the planned facilities would “address the lack of base load power in the Mindanao grid for the next two to three years.”

It will also allow the cooperatives “to meet the needs for peaking power,” A Brown added.

After signing a power purchase and transfer agreement with South Cotabato II Electric Cooperative, a 20-megawatt will be installed in the heart of General Santos City in the next 12 months.

At present, A Brown is involved in the construction of a 135-MW coal-fired power project in Concepcion, Iloilo. The facility, which is expected to be commissioned by 2015, will fill the anticipated power supply gap in Panay and the Visayas grids by 2016, the company said.

“While only 135-megawatt is on a firm basis, the plant site and support units are programmed for two units. The preparations for the second unit are forecast to begin two to three years after commissioning of the first unit,” A Brown further said.

A Brown is also eyeing a 26-MW hydropower project in Surigao and is currently awaiting the approval of its application for a renewable energy service contract.

Read more: https://business.inquirer.net/119791/a-brown-co-eyes-12-power-facilities-in-mindanao#ixzz2lRe2VRYl
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Source: https://business.inquirer.net/119791/a-brown-co-eyes-12-power-facilities-in-mindanao

While it was practically its first equity acquisition in a coal-fired power project, the energy unit of the Ayala Group is now abandoning its stake in the 135-megawatt Iloilo power project.

In a disclosure to the Philippine Stock Exchange, AC Energy Holdings Inc. (ACEHI), the power subsidiary of Ayala Corporation, noted that it sold back its 40-percent shareholdings in the project to Palm Concepcion Power Corporation (PCPC).

PCPC is the corporate vehicle implementing the development of the coal-fired plant; and with Ayala’s sell-out, publicly-listed firm A. Brown Company Inc. will become its majority equity holder again.

“The sale by ACEHI is a result of its strategic decision to focus on other power projects imminent in its development pipeline,” the Ayala firm has emphasized.

In its own disclosure to the local bourse, A. Brown has noted that Palm Thermal Consolidated Holdings Corporation (PTCHC) “has taken the opportunity to acquire the entire stake of ACEHI.” The sale also lumped in the land holding company of the project.

PCPC noted that despite the departure of its major partner, it “will continue to pursue the power plant project as scheduled.” The other partner in the venture is local firm Jin Navitas Resource Inc.

Aside from the Iloilo project, the Ayala group is in partnership with Trans-Asia Oil and Energy Development Corporation of the Phinma Group for a 135-MW power plant venture in Calaca, Batangas. The facility has already been slated for expansion of another 135MW and construction is targeted this year.

Another one in Ayala firm’s energy portfolio is its acquired stake in the 600-megawatt GNPower coal-fired project, a facility that is now contributing to the power supply of Luzon grid.

For the Iloilo project, PCPC previously disclosed that long-term coal supply for the facility has already been firmed up with PT Pevensey. It will draw from its Arjuna coal mine in East Kalimantan.

The plant, which will be sited in a 30-hectare property, will help meet the electricity supply of Visayas grid in the medium term.

Source: https://ph.news.yahoo.com/ayala-group-sells-stake-iloilo-power-project-000500313.html

MANILA, Philippines – Palm Concepcion Power Corp., a joint venture between Palm Thermal Holdings Corp. of A. Brown Co. Inc. and Jin Navitas Resource of the Rebisco Group, has tapped a consortium for the construction of its 135-megawatt state-of-the-art coal-fired power plant project in Concepcion, Iloilo.

Palm Concepcion tapped NLSC, a consortium of First Northeast Electric Power Engineering Corp. of China, Liaoning Electric Power Survey & Design Institute and Shenyang Electric Power Design Institute Co. Ltd. as contractor for the project.

The company also tapped Alstom Power as supplier of its steam turbine and generator for the project.

Palm Concepcion is aiming to complete the project in early 2016 in time for the additional power supply requirements of the Visayas region.

“We’d like to assure our customers that we will deliver this project as committed because we understand the power situation and the power capacities needed by the time the Concepcion plant is operational, in order to support the economic activities in Panay, Negros and the whole of Visayas,” Palm Concepcion chairman Walter Brown said.

The company is in talks with electric cooperatives in Negros Occidental and Negros Oriental to update them on the 2016 completion of the project.Business ( Article MRec ), pagematch: 1, sectionmatch: 1

Palm Concepcion president Roel Castro said customers in Negros can look forward to better power supply by 2016.

He said the customers were all out to support this project especially now that the construction will be starting in the coming weeks.

Palm Concepcion is expected to issue a notice to proceed to the contractor on June 7.

The Concepcion project is a 2×135-MW power generation plant starting with one unit of 135 MW utilizing coal as primary fuel and using circulating fluidized bed combustion (CFBC) technology.

In March, the company signed a coal supply contract with PT. Pevensey Indonesia to ensure its coal requirements for the power generation facility.

PT. Pevensey is a Jakarta-based company, which markets coal, iron ore and carbon products to power plants in China, India and the Philippines.

Source: https://www.philstar.com/business/2013/06/04/949769/palm-concepcion-taps-contractors-iloilo-plant

Palm Concepcion Power Corp., the joint venture of A Brown Co. Inc.’s Palm Thermal Consolidated Holdings Corp. and Jin Navitas Resource Inc., said Monday it started construction works on the P12.5-billion coal-fired power plant in Iloilo.

“We are pushing through with the project as planned and committed because we know and understand the power needs in Panay and the whole of Visayas, especially by year 2016 when most of the newly constructed hotel chains, real estate complex and business hubs as well as other establishments are already operational,” Palm Concepcion president and chief executive Roel Castro said in a statement.

The 135-megawatt Concepcion project is expected to be the most advanced and most fuel-efficient plant in the Visayas, as it will use the Alstom Europe technology for steam turbine and generator under the project management of the American-Canadian company SNC-Lavalin.

Palm Concepcion said it signed a coal supply contract with PT Pevensey Indonesia in order to secure the coal supply requirements of the plant.

A Brown acquired Palm Concepcion in November 2010 from DMCI Power Corp., marking its first major venture in the power generation industry.

The company issued the notice to proceed with the construction of the coal plant to NLSC, the consortium of First Northeast Electric Power Engineering Corp. of China, Liaoning Electric Power Survey & Design Institute and Shenyang Electric Power Design Institute Co. Ltd. on Friday.

Palm Concepcion commissioned NLSC as the engineering, procurement and construction contractor for the project.

Palm Concepcion held a cocktail ceremony on June 6 at Hotel Del Rio in Iloilo City to announce the start of the first coal-fired power plant in Visayas. The event was attended by Iloilo Gov. Arthur Defensor Sr., Concepcion Mayor Milliard Villanueva, key officers from the different electric cooperatives in Panay and officials from different government agencies.

“The Concepcion power plant will be ready to supply the needed power by then [2016],”  Castro said.

Source: https://manilastandardtoday.com/2013/06/11/palm-concepcion-starts-building-p12-5-b-coal-plant/

A unit of A. Brown Company Inc. has signed a hydropower service contract with the Department of Energy (DOE) to develop a 25-megawatt (MW) hydropower project in Cantilan, Surigao del Sur.

In a disclosure Monday, A. Brown said the contract gives its wholly-owned subsidiary Hydrolink Projects Corporation exclusive rights to explore, develop and utilize Carac-an river’s hydropower resources.

Hydrolink went for the project after taking into consideration the the expected increase in power demand in the coming years and the scaled down power supply contract of Surigao del Sur II Electric Cooperative with the National Power Corporation, said A. Brown chairman Dr. Walter Brown.

“We would like to help them in this undertaking, and as a sign of our full and sincere intentions, we immediately commissioned a hydropower technical team to study the power potentials of the rivers in Surigao,” Brown said in a statement.

“The results of the study show that Carac-an river has the best potential for development,” he added.

Hydrolink president and A. Brown vice president for Business Development Roel Z. Castro said the company has conducted a pre-feasibility study of the river.

“We have already identified the most viable strategies for its development. We will now proceed to processing the necessary permits and coordinate with Surigao’s local officials for their support of the project,” he said.

The project is part of A. Brown’s plans to support the need for additional power capacities for electric cooperatives in Mindanao. — Danessa Rivera/GMA News

Source: https://www.gmanetwork.com/news/story/316495/economy/companies/energy-dept-a-brown-unit-sign-surigao-del-sur-hydro-power-deal

Palm Concepcion Power Corp. is taking P6 billion worth of loans from Asia United Bank Corp. (AUB) and China Banking Corp. (ChinaBank) to partly fund the construction and operation of a 135 megawatt (MW) power plant in Concepcion, Iloilo.In a July 19 disclosure to the Philippine Stock Exchange released Monday, A. Brown Company Inc. noted that Palm Concepcion already signed separate loan agreements with Asia United and China Bank.

Palm Concepcion is a joint venture between A. Brown subsidiary Palm Thermal Consolidated Holdings Corp. and Jin Navitas Resource Inc. of the Rebisco Group.

According to A. Brown, Palm Concepcion will specifically use the loan proceeds to fund the engineering, procurement, construction and financing costs of the power plant, which is expected to start operating by mid-2016.

Palm Thermal and Jin Navitas has tapped NLSC as the engineering, procurement and construction contractor for the Iloilo power plant. NLSC is a consortium of First Northeast Electric Power Engineering Corp. of China, Liaoning Electric Power Survey & Design Institute, and Shenyang Electric Power Design Institute Co. Ltd.

BDO Capital & Investment Corp., the investment arm of the Sy Group of Companies, was the lead arranger and sole bookrunner for the term loan facilities, the disclosure noted. — VS, GMA News

Source: https://www.gmanetwork.com/news/story/318564/economy/companies/a-brown-rebisco-group-joint-venture-taps-aub-chinabank-for-p6-b-in-loans-for-iloilo-power-plant

PEAKPOWER Soccsargen Inc., a subsidiary of A Brown Co. Inc. (ABCI),  started ground works on Thursday for its 20.9-megawatt (MW) bunker-fired power plant in South Cotabato.

Peakpower President Roel Castro said the facility will be fully operational by the second half of 2014. “This is just one of many projects designed to address the lack of power in the Mindanao grid for the next two to three years, and to allow the cooperatives to meet the needs for peaking power,” he said, adding that it is part of ABCI’s aim to address the incessant power outages caused by the shortfall in peaking energy in Mindanao.

The security and reliability of power supply would yield more competitive rates and help bring electricity costs down, thus driving down the cost of doing business in the area, added the official.

Peakpower is engaged in the development, construction, operation and maintenance of bunker-fired power plants and systems.

Wärtsilä Finland Oy, a manufacturer of diesel engines with a total of 2 gigawatt-hours of installed capacity in the Philippines, will be supplying the engines. Power, Manufacturing and Marine Works Inc. (PMM Works) is the power generation, engineering, installment and construction contractor for the project, while Ferrowelds Construction is the switchyard contractor.

Peakpower will be supplying electricity to the South Cotabato II Electric Cooperative (Socoteco II).

“We are here for the long term. This is the first project we have started in this city but we are interested in doing other kinds of projects in any way we can be of assistance. We’re interested in problems: not creating or expanding them but in solving them with the help and assistance of the community, in a transparent manner,” ABCI Chairman Walter Brown said.

Socoteco II General Manager Rodolfo Ocat said Peakpower will construct the power plant on a build-operate-transfer scheme. “We agreed that after 15 years, the power plant will be transferred to the cooperative,” he said.

Aside from Peakpower, ABCI’s foray into the energy industry includes Palm Concepcion Power Corp.’s  270-MW coal-fired power plant project in Concepcion Iloilo and Hydrolink Projects Corp.’s 25-MW hydroelectric project in Surigao that recently signed a service contract with the Department of Energy.

Source: https://businessmirror.com.ph/index.php/en/business/companies/18027-peakpower-starts-mindanao-project

Local share prices continued to sustain an uptrend as investors bet on the country’s strong macroeconomic fundamentals.

The benchmark Philippine stock exchange index (PSEi) rose for a second day 130.96 points to 6,075.17 on Friday from previous day’s 5,944.21.

A new economic data was released Thursday indicating the country’s gross domestic product (GDP) grew 7.5 percent in the second quarter from 7.7 percent in January to March.

This is the fourth consecutive quarter that the GDP has been expanding about 7 percent.

“GDP is above target, inflation is contained, remittances continue to expand, GIR (gross international reserve) at record levels, among others. Even the anticipated weakness in exports is consistent with expectations,” said Accord Capital Equities Corp.

It said these robust economic figures boost assumptions that year-end PSEi range of 6,800 to 7,200 and as much as 7,500 have been validated.

For the past few weeks, the PSEi had been declining fuelled by fears of a possible escalation of the tensions in Syria and continuing uncertainty about the Federal Reserve policy tapering.

The index even reached its lowest level this year at 5,700 on Wednesday.

All counters were already in the positive territory, led by property and holding firms stocks that rose 2.81 percent and 2.53 percent.

Volume of transactions reached 1.25 billion shares valued at P14.43 billion.

Gainers won decliners, 100 to 53, while 37 issues were unchanged.

Top gainers were led by A. Brown Company Inc., Nextstage Inc., Berjaya Philippines Inc., Information Capital Technology Ventures Inc. and Philex Petroleum Corp.

Source: https://www.usnewslasvegas.com/business/phl-stocks-sustain-gains-on-strong-economic-data/