Greenergy to buy 50 per cent of biofuel manufacturer

Renewable energy company Greenergy will invest PHP25m ($586,375) to acquire a 50 per cent stake in Isabela Alcogas Corp, a manufacturer of ethanol and other biofuels.

Isabela Alcogas has plans of setting up a cogeneration bioethanol and power plant in a 15,000ha plot and is currently finalizing details for the ethanol plant.

It had formed a joint venture with Chinese firm Tianjin Tianbao Investment and Development Corp to put up renewable energy projects.

Greenergy intends to invest a total of $1.3bn in renewable energy projects, out of which $200m will be allocated to wind projects and will also look into biomass, solar power, geothermal energy and hydroelectric power.

For more companies news



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...