Victorias Milling Co. Inc. announced that it is keen on completing a PHP 2-billion, 40-megawatt (MW) cogeneration biomass power plant by September this year. The plant is currently being constructed within the VMC's headquarters here and expected to run mainly on bagasse, a byproduct of sugarcane after being processed to extract sugar. The company will be able to export to the grid about 25 MW while the remaining 15 MW will be for own use. The company can construct Phase 2 [of the biomass plant]. Same capacity, but the power exported [to the grid] will be just 20 MW. Part of the power from Phase 2 will electrify the turbines to convert them to use electric power so that steam from the sugar mill will be concentrated on the power plant to maximize power generation will use to run the mill. Concepcion added that they already signed an agreement with Wuxi Huaguang Electric Power Engineering to become the supplier of the boiler for their biomass project. He added that the upgrade will likely cost around PHP 50 million to PHP 80 million. Bulk of investment will be spent on the installation of a dehydrator to enable the conversion of potable alcohol to bioethanol.