7 MAY 2009
Green Power Pangasinan awarded Board of Investment ("BOI")
incentives for 35MW biomass
Manila 7 May: Green Power Pangasinan Philippines Inc., ("GPPPPI") receives Board of Investment approval for 35 MW of biomass power.
GPPaPI is the very first company accredited under the Philippines Renewable Energy Bill by the Department of Energy to secure Board of Investment incentives. The GPPaPI project is now a Philippine National Priority project.
The non-fiscal and fiscal incentives will be applied to GPPaPI's 35 Mega Watts of clean, decentralize, clean, renewable energy that will help to alleviate the Luzon Grid's looming energy shortfall of 2010.
The project has received the direct support of the Philippine Department of Energy as well as Congresswoman Rachael (Baby) Arenas.
The first stage of the project will deliver 15 MW of energy and then be expended up to 35 MW. The project will use agricultural waste as fuel that is currently left in the field to rot or is burned causing environmental pollution. The project will help mitigate climate change and provide around 900 direct and indirect jobs to local communities.
The project will be developed to the Clean Development Mechanism (CDM) "Gold Standard".