^

Business

San Carlos BioPower breaks ground for bagasse-fired plant

Iris Gonzales - The Philippine Star

MANILA, Philippines - San Carlos BioPower Inc. broke ground yesterday for an 18-megawatt bagasse-fired power plant project in Negros Occidental, an official of the Department of Energy (DOE) said.

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.

 

 

vuukle comment

BIOMASS AND SAN CARLOS BIOPOWER

BIOMASS HOLDINGS INC

DEPARTMENT OF ENERGY

GREENERGY

GREENERGY HOLDINGS INC

MARIO MARASIGAN

NEGROS OCCIDENTAL

SAN CARLOS

SAN CARLOS BIOENERGY

SAN CARLOS BIOPOWER

SAN CARLOS CITY

  • Latest
  • Trending
Latest
Latest
abtest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

Get Updated:

Signup for the News Round now

FORGOT PASSWORD?
SIGN IN
or sign in with