METPower Venture Partners Holdings, Inc, a waste-to-energy venture of Metro Pacific Investments Corp (MPIC) with Dole Philippines, Inc was recognized as a joint crediting mechanism (JCM) model project by Japan’s Ministry of the Environment.
The waste-to-energy project is a biogas facility that will obtain biogas from the anaerobic digestion of fruit waste from Dole’s canneries in South Cotabato. The plant will have the capacity to produce 5.7-megawatt equivalent of clean renewable energy and reduce greenhouse gas (GHG) emissions by about 50,000 tons of carbon dioxide per year. The construction of PHP 1 billion (USD 19.9 million) facility was affected by COVID-19 and is expected to commence operations by first quarter of 2021.
The project is the first in the country to qualify under JCM model project and will receive a maximum subsidy of 50% of the qualified capital cost from the Japanese government. The first tranche of the subsidy has been received, and further cash disbursement is expected from Japan in 2021. The JCM project model aims to reduce global GHG emissions by promoting and supporting advanced low-carbon technologies, systems and infrastructure.
(Source: Philippine Daily Inquirer; BusinessWorld; Metro Pacific Investments Corp.)