Metro Pacific Investments inked a deal with Dole Philippines for the $19.05m project.
The Philippines’ Metro Pacific Investments Corporation (MPI) inked a deal with agricultural producer Dole Philippines, Inc. (DPI) to design, construct, and operate facilities that will process fruit waste and produce around 50,000MWh of biogas. MPI has set aside $19.05m (Php1b) for the project.
According to an exchange announcement, the biogas facilities will complement DPI’s existing operations by processing organic fruit waste from its Surallah and Polomolok facilities in South Cotabato, Mindanao. The biogas energy will be used by DPI for power generation and fossil fuel substitute.
MPI’s subsidiary Metpower Venture Partners Holdings, Inc. (MVPHI), through Surallah Biogas Ventures Corporation (SBVC), signed the agreement with DPI. “The project serves as MPI’s first foray in bio-energy and will serve as a catalyst for a highly scalable waste-to-energy platform it plans to build in the Philippines through MVPHI,” MPI said.
The project is expected to trim CO2 reduction by approximately 100,000 tonnes per year.
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