|
Special
|
|
Written by Mia Jarumayan
|
|
Monday, 31 January 2011 15:16 |
|
Page views: 2809 |
Green Future Innovations, Inc. (GFII) had a successful launching of its San Mariano, Isabela bioethanol distillery and cogeneration facility last January 28, 2011 at the Makati Shangri-La.
The PhP6 billion plant, expected to operate by the second quarter of 2012, will produce 54 million liters of bioethanol annually, making it the biggest bioethanol distillery in the country to date. It will also have the capacity to generate 100,000 MW of renewable energy yearly, in answer to the need for cleaner, more sustainable sources of power in the country.
The bio-ethanol plant is the brainchild of GFII, a newly formed venture among Japan’s Itochu Corporation and JGC Corporation, the Philippine Bioethanol and Energy Investments Corporation, and Taiwanese holding company GCO. They aim to contribute to the domestic supply of green energy pursuant to the Biofuels and Renewable Energy Laws.
Reynaldo Bantug, GFII President, said “right now we import our fuel needs, and foreign exchange goes to the rich Middle Eastern nations.”
Philippine Biofuel’s Winston Uy likewise addressed this trend of purchase of multinational oil companies and said “we hope that all stakeholders will see that we are coming in with a different model. I hope that everyone can see the value of this most efficient and sustainable project.”
The plant will have an 11,000 hectare sugarcane plantation supplying the need for approximately 700,000-tons of biomass yearly. GFI said this massive infrastructure will generate enough energy to displace 54 million liters of imported fossil fuel. It will ensure savings of about $27.5 million per year, at current crude prices of $81 per barrel.
Apart from the economic benefits of the project, GFI iterates the socio-economic impact this will bring to the farmers in the north. Up to 3,000 farmers and 15,000 Filipinos will benefit from this project.
“A substantial part of our farmland is idle land right now. We’ll be going from nothing to something, and with all these opportunities for the municipality, we expect a net-positive impact,” said Uy, who cited the preferential tariff rates and biofuel incentive programs as among the other attractions of the local biofuels and renewable energy laws.”
Senator Miguel Zubiri, who authored the Biofuels and Renewable Energy Acts, opened the programme along with Isabela governor Faustino Dy III.
|
Share this Article.
|