GREEN Corp., a Canadian company with offices in BC and Ontario, recently finalized an agreement with the Philippine government to invest $25 million to develop the coco-diesel industry in the Philippines. The $25M investment will be done through a 3rd party group handling funds for socio-economic related projects.

GREEN Corp. CEO Rely A. Diego and PADCC president Marriz B. Agbon signed the agreement in Washington, DC last month. Philippine Agriculture Secretary Arthur C. Yap was present to witness the signing. The agreement will pave the way for the deployment of 100 units of village-level biodiesel processing facilities in coconut-producing areas in the Philippines.  20 units will be initially delivered within 2008.

Target areas under this Memorandum of Agreement (MOA) include coconut-rich provinces such as Quezon, Laguna, Batangas and several areas in the Bicol region. The project targets to produce 1,000 liters per day of coconut methyl ester  per unit in 10 hours and will initially benefit 5,000 families and 100 farmers’ organizations and cooperatives in the Philippines over a two-year period beginning this year. GREEN Corp. will also launch similar projects in other parts of Asia such as Malaysia, Indonesia, Thailand and Vietnam.

Click here for full text article.

Supplied by the Climate Change Central's Climate Change and Energy Technologies News Digests.