TeaM to invest over $150m in renewable energy projects
TeaM Energy Philippines, a partnership between Tokyo Electric Power and Marubeni Corp., will install over 50MW of new capacity from renewable energy sources.
More than $150 million (€107 million) will be invested to make these renewable energy projects a reality; each project is predicted to cost between $2.5 and $3 million.
A biomass plant, which will generate 11MW of renewable energy from coconut leaves and rice husks is currently being developed. In addition, TeaM is looking at constructing a minimum of five mini-hydro plants in northern Luzon, which will generate 5MW of power each. And in Bulacan and Batangas, the company is considering building two 10MW solar power plants.