This is the first eligible biogas project in the Philippines under the JCM.
The project, registered as “Biogas Power Generation and Fuel Conversion Project in Pineapple Canneries” was qualified and confirmed by the Global Environmental Centre Foundation (GEC), an implementation agency of the JCM model project, following a meticulous validation process.
As such, it will receive subsidy for low- carbon projects that can deliver carbon credits for the achievement of Japan’s and partner countries’ GHG emission reduction target.
The first tranche of the JCM subsidy was received, with further cash distributions expected in 2021.
The grant comes at an opportune time as the company strengthens its commitment to retain every single employee and sustain operations during this challenging time.
This capital will further facilitate METPower’s pursuit and development of environmentally beneficial and sustainable projects in the near future.
Japan’s Itochu Corp., through its Manila office, was instrumental in initiating and leading the accreditation process, which was jointly supported by METPower Venture Partners Holdings, Inc., (METPower), a wholly owned subsidiary of MPIC.
The project involves the design, construction and operation of biogas facilities for Dole’s canneries in South Cotabato, Mindanao. The integrated waste-to-energy facilities aim to complement Dole’s existing operation by processing organic fruit waste and harnessing biogas to produce 5.7 MW equivalent of clean renewable energy and reduce GHG emissions by approximately 50,000 tonne CO2 equivalent per year from fossil fuel substitute.
“With this JCM model project recognition, we have further validation of the considerable environmental benefit our biogas plants bring in curbing the greenhouse effect and capturing methane emissions for alternative fuel use, “ METPower CEO Karim Garcia said.
METPower is on a steep growth trajectory with two biogas plants under construction and new development projects such as CO2 recovery and organic fertilizer distribution currently under development. While COVID-19 has affected the construction and commissioning of its biogas projects under construction, commercial operations of these plants are expected to commence in the first half of 2021.