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$71.3 million biomass plant for Palawan

In the Philippines, Phil-Korean Renewable Energy is planning to invest $71.26 million (€52.6 million) on the construction of a biomass plant.

The refinery, due to begin construction later in 2010, will utilise woodchips to produce 30MW of power that will be supplied to Palawan Electric.

The chairman of Phil-Korean Renewable Won Gul Lee has said that the company will replace those trees used in the biomass plant. Phil-Korean Renewable is currently looking at an 80,000-hectare plantation site in Palawan on which to plant the new trees.

Phil-Korean Renewable is a private investment between Lee and other Korean investors. The biomass project in Palawan is part of 26 renewable energy contracts signed by the Energy Department, which are worth a combined total of $277 million and will generate 466MW of power.

The Energy Department has already signed approximately 180 renewable energy projects that will provide the Philippines with dependable power and cleaner sources of energy.