It has been confirmed that Philippines-based Eastern Petroleum will begin construction of a biomass plant this year.
The power facility represents EP’s first venture into the biomass sector and will cost $60 million (€44.7 million). Construction is hoped to begin in the third quarter and be fully operational in 2015.
‘We, through our subsidiary Eastern Renewables Fuels, have also entered into a joint venture with the Manobo tribal council for the cultivation of a 10,000-hectare industrial tree plantation to secure the feedstock requirements of its proposed 20-MW biomass power plant,’ says EP CEO Fernando Martinez.
The plant will be based in Agusan del Sur and expected to generate around 20MW of power.