Business

US$35m investment in Biomass Power Plant

Construction works have begun on a 10 Megawatts Biomass Power Plant in Navutu, Nabou in Nadroga. This will be fueled by short rotation crops. The investment of around US$35 million
20 Aug 2014 15:35
US$35m investment in Biomass Power Plant
Mereseini Vuniwaqa.

Construction works have begun on a 10 Megawatts Biomass Power Plant in Navutu, Nabou in Nadroga. This will be fueled by short rotation crops.

The investment of around US$35 million has been possible through a joint venture partnership between Tropikwood Industries Limited and Korean company GIMCO.

It is understood the US$35 million will be sourced locally as well as through overseas funding.

The project will take 28 months to be completed and will be ready by end of 2016.

Fiji Pine Group of Companies executive chairman, Faiz Khan, emphasised on the need for partnerships with various stakeholders in order to achieve success in the project.

In particular, he spoke about partnerships with the landowners, Government, FEA and the various shareholders in this joint venture.

“Government has done its part by creating a platform that is conducive for such investment,” he said.

“Through its restructure in various policies, it has strengthened its relationship with its landowners who are Fiji Pine’s major stakeholders.

“There is a need to continue working on the strengths of our partnerships for a sustainable and profitable venture.”

Reduce import reliance

Minister for Agriculture, Inia Seruiratu, said the development of the biomass facility will help reduce Fiji’s reliance on imported fossil fuels.

He said the development will have mutual benefits for the investor and the people of Fiji.

“This investment is timely since it will contribute to our long term aspiration for energy security and sustainable development,” he said.

“Fiji is heavily dependent on imported fossil fuels for producing electricity as well as energy and transportation.”

Mr Seruiratu further said that apart from creating jobs, the facility will provide access to modern, affordable, clean and reliable energy services.

GIMCO Bioenergy chairman, Sun Lee Sang, thanked the Government and the associated stakeholders who assisted in the project.

“Through this project, we want to assist FEA and Fiji achieve the renewable energy target for the country,’’ he said.

“FEA is aiming to provide clean and affordable energy solution to Fiji with at least 90 per cent of the energy requirements through renewable resources,” he said.

“The technology of renewable energy, especially biomass power plant, is already successful in Korea.

“We believe this will not only strength Fiji and Korea relations but can also make Fiji a leader in biomass energy generation in the Pacific and developing countries.”

He further mentioned the energy crop plantation which is called “short rotation coppice” will make Nabou look greater and healthy again.

Feedback: sheik.dean@fijisun.com.fj




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