Medco in JV to build biomass power plant in Singapore
Thursday, April 10 2008 - 02:31 AM WIB
The JV will appoint Industrial Power Technologies, one of Asia?s leading suppliers of industrial power plants and a specialist in converting biomass into usable electricity, as the EPC contractor to build the plant, which is expected to commence in mid-2008 and is estimated to take 24 months to complete with a total estimated project cost of S$55 Million.
The project will consist of a 2 x 9.9MW Power Plant which will generate electricity that will be transmitted to the Singapore?s Power Grid, and a 5MW generator for internal consumption to power the fuel preparations operations, the company said.When completed, it will be one of the largest privately-owned power plants in Singapore.
According to a Clean Development Mechanism (CDM) specialist, the plant has the potential of generating up to 135,000 units of carbon credits, making it one of the largest carbon credits holders in Singapore.Revenue and sustainability of the power plant is derived from the sale of electricity to Energy Market Company, which operates Singapore?s wholesale electricity market, and the sale of Certified Emissions Reduction credits to global customers who are interested in lowering their carbon footprint on a voluntary basis under the United Nations Clean Development Mechanism.
BI currently is one of the largest waste wood collectors in Singapore. The collection of wood waste will increase to approximately 700 to 800 tons per day by 2010 for use as fuel stock for the power plant. This would utilize approximately 50% to 60% of Singapore's wood waste generated in a single day as a renewable energy source.
In Sept 2006, Biofuel Industries was granted an Electricity License for 30 years by the Energy Market Authority (EMA) to allow the generation of electricity via recycling of wood waste.(denny)