MPIC, Dole Philippines sign P1-B biogas facilities deal

Metro Pacific Investments Corp. (MPIC) has signed a deal with Dole Philippines Inc. to build waste-to-energy facilities at the manufacturing sites of the fruit cannery.

In a regulatory filing submitted on Tuesday by MPIC vice president Melody del Rosario, the Pangilinan-led conglomerate said Metpower Venture Partners Holdings Inc. (MVPHI), through Surallah Biogas Ventures Corp. (SBVC), has finalized and signed a deal with Dole Philippines Inc. (DPI) to design, construct, and operate biogas facilities.

Metpower Venture is 100-percent owned by MPIC.

“The biogas facilities located within the premises of DPI aim to complement their existing operation by processing organic fruit waste from its Surallah and Polomolok facilities in South Cotabato, Mindanao, and harnessing renewable energy in the form of biogas,” MPIC said.

MPIC has earmarked about P1 billion for the project, which will be sourced from its internal funds.

The facilities will have a 50,000 megawatt-hour per year output of clean energy.

“Both MPIC and DPI believe that this long-term project is an innovative, environment-friendly, and sustainable waste management solution consistent with, and further elevates the business tradition of DPI. The project positively impacts climate change through CO2 emission reduction by approximately 100,000 tons per year,” MPIC noted.

“The project serves as MPIC’s first foray in bio-energy and will serve as a catalyst for a highly scalable waste-to-energy platform it plans to build in the Philippines through MVPHI,” it added. —Ted Cordero/VDS, GMA News