8.8 MW biomass plant to be sold in the Philippines
Power Philippines has reported that electric power distributor AboitixPower is looking to sell its 8.8 MW biomass plant located in Lian, Philippines.
The biomass plant was acquired by the company in 2016 and led to the expansion of its renewable energy work, as they previously produced hydro, run-off-river hydro, geothermal and solar energy.
The company’s chief operating officer, Emmanuel V. Rubio, has said to Power Philippines that it is “talking to two interested parties- one local and one foreign.” The deal is expected to be made by the end of 2018.
The company is said to be prioritising the interests of its employees and stakeholders and have stated that in January it will permanently cease production of its biomass plant, due to a shortage in organic materials.
The details of both negotiating parties has been kept private, due to a non-disclosure agreement, however Rubio guaranteed that the talks between the two parties had progressed.
“We have the draft proposals and agreements. It’s being reviewed now. One is doing due diligence.” Rubio said. “If they’re interested it will happen.”