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Salim Group revives renewable energy bid

Conglomerate Metro Pacific Investments Corp., a unit of the Salim Group of Indonesia, has revived plans to venture into renewable energy sources by developing a  waste-to-energy facility in Payatas, Quezon City.

Metro Pacific president Jose Ma. Lim said in an interview at the sidelines of a forum the company wpould submit an unsolicited waste-to-energy project in Payatas to the Quezon City government.

Lim said the project would have two components—a biodigester to convert waste to energy and a stoker plant for incineration.

“We do expected handle one-third of the solid waste of Metro Manila once the facility is set up and if we are successful,” Lim said.

The proposed project could potentially generate 30 to 40 megawatts of power.

“We will submit this to the Quezon City government for evaluation and whether the proposal is something that they would consider,” Lim added.

He said Metro Pacific would tap technology partner for the venture.

This is the second attempt of Metro Pacific group to build a waste-to-energy project in the country.

The company in 2014 signed an investment agreement with GGI Energy Pte. Ltd., a Singapore-based company, to develop a waste-to-energy facility in Tagum, Davao del Norte. 

The facility could produce two MW of power and 10,000 liters of biodiesel a day, with an option to expand it to six MW. The project was estimated to cost P600 million to P700 million.

But Metro Pacific last year said it terminated the investment agreement with  GGI Energy due the “non-completion of the conditions precedent under the investment agreement by the stipulated long stop date.”

Metro Pacific said it would continue to purse waste-to-energy projects in the country to address issues on solid waste management and increased demand for electricity.

The infrastructure conglomerate earlier said it was looking at creating a portfolio of waste-to-energy facilities with a generating capacity of 300 MW.

Metro Pacific has investments in hospitals, power generation, tollroads and water utility.

Share price of Metro Pacific on Tuesday closed at 7.09 per share, down 0.14 percent from the previous day’s close.

Topics: Metro Pacific Investments Corp. , Salim Group of Indonesia , renewable energy
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