Bionor to invest $200 million in jatropha plantations in the Philippines
According to the Philippine Department of Agriculture, Spanish biodiesel firm Bionor Transformacion S.A. is to invest US$200 million to develop at least 100,000 hectares (247,105 acres) of land into jatropha plantations. The company disclosed its plans to invest in the Philippines through a memorandum of agreement signed recently between AME Bionergy Corp. and the country's Agricultural Development and Commercial Corporation (PADCC).
Madrid-based AME Bioenergy Corp. is appointed as the key integrator for Bionor in the country, and will conduct feasibility studies on the jatropha project, identify suitable jatropha plantation sites, organise and train farm labor, and install plantation infrastructure.
Agriculture Secretary Arthur C. Yap told local media the PADCC will cooperate to facilitate the project. PADCC will assist AME to mobilise the Department of Agriculture's (DA) agencies and bureaus, as well as financial institutions, to help realise Bionor's investment plans.
The project is part of Bionor's strategy to develop plantations on biodiesel feedstocks that do not compete with the food sector or contribute to deforestation. Bionor is currently operating two biodiesel plants in Spain and Italy with a combined output of 125,000 tonnes (137,750 tons). It is constructing five more plants in Spain and Brazil, which will add 900,000 tonnes (990,000 tons) of capacity in 2008.
energy :: sustainability :: biomass :: bioenergy :: biofuels :: biodiesel :: jatropha :: Philippines ::
The Philippines has been listed by Ernst & Young as one of the most attractive developing countries for investments in first generation biofuels (see Q1 report and Q2 report). Its geographical location at the center of the rapidly growing South East and East Asian region, its biofuels legislation and incentives, and its relative abundance of natural resources are key factors determining this attractiveness.
The Philippines' biofuels sector got a fresh impetus earlier this year after President Gloria Macapagal Arroyo passed the much-awaited Biofuels Act. The new act mandates minimum 1% biodiesel blending into all diesel from May this year and minimum 2% biodiesel blending from mid-2009. It calls for minimum 5% ethanol blending in gasoline from mid-2009, rising to 10% from around mid-2011. The Act also set up mechanisms to encourage investments in the local biofuels industry.
References:
EnergyCurrent: Bionor mulls Filipino jatropha investment - December 3, 2007.
Visayan Daily Star: Spanish firm to invest $200M for RP biofuels - December 3, 2007.
Inquirer: Madrid-based firm investing $200M in biofuel sector - December 3, 2007.
Biopact: Biofuels and renewables 'Country Attractiveness Indices' for Q1 2007 - May 24, 2007
Biopact: US tops Biofuels Country Attractiveness Indices for Q2 2007 - September 18, 2007
Madrid-based AME Bioenergy Corp. is appointed as the key integrator for Bionor in the country, and will conduct feasibility studies on the jatropha project, identify suitable jatropha plantation sites, organise and train farm labor, and install plantation infrastructure.
Agriculture Secretary Arthur C. Yap told local media the PADCC will cooperate to facilitate the project. PADCC will assist AME to mobilise the Department of Agriculture's (DA) agencies and bureaus, as well as financial institutions, to help realise Bionor's investment plans.
The project is part of Bionor's strategy to develop plantations on biodiesel feedstocks that do not compete with the food sector or contribute to deforestation. Bionor is currently operating two biodiesel plants in Spain and Italy with a combined output of 125,000 tonnes (137,750 tons). It is constructing five more plants in Spain and Brazil, which will add 900,000 tonnes (990,000 tons) of capacity in 2008.
energy :: sustainability :: biomass :: bioenergy :: biofuels :: biodiesel :: jatropha :: Philippines ::
The Philippines has been listed by Ernst & Young as one of the most attractive developing countries for investments in first generation biofuels (see Q1 report and Q2 report). Its geographical location at the center of the rapidly growing South East and East Asian region, its biofuels legislation and incentives, and its relative abundance of natural resources are key factors determining this attractiveness.
The Philippines' biofuels sector got a fresh impetus earlier this year after President Gloria Macapagal Arroyo passed the much-awaited Biofuels Act. The new act mandates minimum 1% biodiesel blending into all diesel from May this year and minimum 2% biodiesel blending from mid-2009. It calls for minimum 5% ethanol blending in gasoline from mid-2009, rising to 10% from around mid-2011. The Act also set up mechanisms to encourage investments in the local biofuels industry.
References:
EnergyCurrent: Bionor mulls Filipino jatropha investment - December 3, 2007.
Visayan Daily Star: Spanish firm to invest $200M for RP biofuels - December 3, 2007.
Inquirer: Madrid-based firm investing $200M in biofuel sector - December 3, 2007.
Biopact: Biofuels and renewables 'Country Attractiveness Indices' for Q1 2007 - May 24, 2007
Biopact: US tops Biofuels Country Attractiveness Indices for Q2 2007 - September 18, 2007
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