THE biogas project of Metro Pacific Investments Corp. (MPIC) with Dole Philippines Inc. has received a subsidy from the Japanese government, the first in the country to secure such assistance from its Asian counterpart.
In a disclosure, the Pangilinan-led company said the biogas project of MPIC’s wholly owned subsidiary METPower Venture Partners Holdings Inc. (METPower) received the first tranche of the subsidy.
The project was recognized as a joint crediting mechanism (JCM) model project by Japan’s Ministry of the Environment, making it the first eligible biogas project in the Philippines under JCM.
With that, the project, registered as Biogas Power Generation and Fuel Conversion Project in Pineapple Canneries, was approved for the maximum subsidy of 50 percent for the qualified capital cost of the project from the Japanese government.
The Japanese government provides subsidy for low-carbon projects that can deliver carbon credits for the achievement of Japan’s and partner countries’ greenhouse gas (GHG) emission reduction target.
METPower is expecting further cash distributions from Japan’s Ministry of the Environment in 2021.
In November 2018, METPower and Dole Philippines signed an accord to develop the integrated waste-to-energy facilities to compliment Dole’s canneries in South Cotabato.
Biogas facilities process organic fruit waste and harnessing biogas to produce 5.7-megawatts (MW) equivalent of clean renewable energy. It reduces GHG emissions by approximately 50,000 tons of carbon dioxide equivalent per year from fossil fuel substitute.
