The facility has the capacity to generate power for about 22,000 homes by using organic waste from sugar cane and molasses from a nearby alcohol distillery.
GE plans to deliver seven of its Jenbacher gas engines, four J420 and three J320 units, by October 2015.
The first of three-phase project is expected to go online by the end of this year, while phase two is due to start early in 2016.
The units will be installed and maintained by DESCO Incorporated, GE’s authorized distributor for Jenbacher gas engines in the Philippines.
GE said its gas engines technology will make sure the plant’s efficiency in delivering power to the Philippine grid.
Aseagas chief operating officer Juan Alfonso said: "I think there’s a huge potential for biomass energy in the Philippines. Our population of about 100 million is bound to generate abundant biomass resources including agricultural crop residues, animal wastes and agro-industrial wastes.
"The Philippines’ feed-in tariff allocation right now is 250 megawatts for biomass. Other countries like Germany, for example, have thousands of megawatts of biomass. So we’re just scratching the surface."
According to the Philippines Department of Energy, the country’s supply of biomass resources has the potential to produce 4,450MW of capacity, equal to 40% of its energy requirements, if developed.