RDC: Investor eyes WV as generator of renewable energy
The Regional Development Council (RDC) in Western Visayas reported that an investor whose company has a $55 million capital fund for the production of refinery plants for bio-diesel production, has recognized the abundant source of plants in the region to develop and generate biomass fuel.
According to the press report of the National Economic and Development Authority (NEDA 6), Mr. Mario San Juan of BizMinded Concepts, presented to the RDC that their company promotes the development of sustainable and renewable energy initiatives by developing potentials of plants such as coconut, sunflower, malunggay, jethropa and algae as sources of biodiesel.
Mr. San Juan said their company hopes to tap private landowners with sizeable plantations here in the region to reinforce our virtually inexhaustible network of feedstock sources.
He also informed the members of the Council that their company has already developed the technology to generate biofuel from these plants.
The NEDA press report disclosed that San Juan’s company also hopes to create a minimum of 10,000 jobs with safety training program and implement effective approach to economic and ecosystem preservation while providing regional growth and community outreach.
According to Mr. San Juan, their company has $55 million capital fund which will be utilized to implement refinery sites of 110,000 hectares that will produce biodiesel with a capacity of approximately 20,000,000 gallons/year. Biodiesel and by-products will be distributed locally and internationally with projected annual gross revenue of over $250 million. (NEDA/ PIA6)