(The Philippine Star) | Updated April 13, 2013 - 12:00am
The company, controlled by listed firm Greenergy Holdings Inc., would start the construction of the project to meet its December 2014 target completion date, said DOE director Mario Marasigan.
Biomass facilities are becoming more popular. These facilities produce clean renewable energy out of human, plant or animal waste. Sugar mills, meanwhile, produce large amounts of bagasse as waste, which in turn can be used to produce fuel for the biomass plants.
The biomass project will be built alongside the existing ethanol facility of San Carlos Bioenergy, another Greenergy unit.
The project is seen to boost electricity supply in the booming Visayas region.
Furthermore, the biomass project is seen to provide additional source of income for local farmers.
Last month, Greenergy, through subsidiary Biomass Holdings Inc., released P667.527 million to San Carlos BioPower, representing a 64-percent equity interest in the company.
This followed the execution of an investment agreement between Biomass and San Carlos Biopower.
“The release of the total investment price to SCB (San Carlos Biopower) completes the investment of BHI in SCB for the acquisition of 64 percent equity interest in SCB and shall enable SCB to commence the implementation of the 18 MW bagasse- fired power generation project in San Carlos City, Negros Occidental,” Greenergy earlier said. source
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