Oil firm subsidiary turns to biomass

摘要

Caraga Renewable Power, a subsidiary of Eastern Petroleum, is investing $70 million (?52.5 million) to build a new biomass power plant in Butuan city, the Philippines. According to reports, the new plant will use woodchips to generate 20MW of renewable energy. The feedstock will come from industrial tree plantations in Agusan del Norte and Agusan del Sur, in addition to others.