MPIC, DOLE BUILDS P1B BIOGAS FACILITY
Metro Pacific Investments Corporation (MPIC) today announced that its 100% subsidiary Metpower Venture Partners Holdings, Inc. (“MVPHI”), through Surallah Biogas Ventures Corporation (“SBVC”), has finalized and signed agreements with Dole Philippines, Inc. (“DPI”) to design, construct, and operatebiogas facilities specifically for DPI in Mindanao.
The move aims to promote a cleaner environment and better waste management.
MPIC has earmarked about P1 Billion for this project, which will be sourced from MPI’Cs internal funds.
The biogas facilities located within the premises of DPI aim to complement their existing operation by processing organic fruit waste from its Surallah and Polomolok facilities in South Cotabato, Mindanao, and harnessing renewable energy in the form of biogas. SBVC’s facilities will produce about 50,000 megawatt-hour (MWh) of clean energy annually to be used by DPI for power generation and fossil fuel substitute.
Both MPIC and DPI believe that this long-term Project is an innovative, environment-friendly, and sustainable waste management solution consistent with, and further elevates the business tradition of DPI. Further, the project positively impacts climate change through CO2 emission reduction by approximately 100,000 tons per year.
The Project serves as MPIC’s first foray in bio-energy and will serve as a catalyst for a highly scalable waste-to-energy platform it plans to build in the Philippines through MVPHI.