Business Technology, Finance Technology & Information Technology
The P919-M biomass facility will begin operations in December
The Board of Investments (BOI) has authorized Libertad Power and Energy Corp.’s PHP919-million biomass facility, which will begin operations in December of this year.
The biomass plant has a capacity of six megawatts and is located at Aurora, Zamboanga del Sur.
According to the BOI, the biomass plant’s production will be sold to distribution utilities, industrial users, and the Wholesale Electricity Spot Market.
The biomass facility will recruit 60 workers once commercial operations begin, in addition to the 300 jobs generated during the project’s development.
“As the nation prepares for a post-pandemic situation, the demand for electricity in Mindanao will continue to rise owing to the return of economic development.” “Capacity expansion is required to maintain this demand and guarantee uninterrupted electricity supply to customers,” Trade Undersecretary and BOI Managing Head Ceferino Rodolfo said in a statement Tuesday.
This kind of project, according to Rodolfo, would add capacity to the Mindanao grid while also contributing to the 823-MW biomass power goal capacity by 2040.
As renewable energy projects are protected by specific regulations under the IPP, biomass projects are included in the BOI’s 2020 Investment Priorities Plan (IPP).
Biomass plants produce electricity by burning rice husk, coconut husk, rice straw, maize cobs, wood chips, and coconut pieces, among other things.
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