Biomass refers to biological materials that can be converted into fuel. The Philippines has an abundance of biomass energy sources, such as agricultural crop residues, forest residues, agro-industrial wastes, and aquatic biomass. Since 13 million hectares of land area are devoted to agriculture, crop residues alone have the potential to produce over 175 MW of electricity supply.
Today, biomass is considered as one of the primary energy sources in the Philippines, as it accounts for nearly 30% of the country’s total energy use.
Key Players
Major active players already in the country include: Central Azucarera Don Pedro, Isabela Biomass Energy Corporation, Cagayan Biomass Energy Corporation, Universal Robina Corporation, Central Azucarera de Bais, Crystal Sugar Company, MacKay Green Energy, The Aboitiz Group and Eastern Petroleum Group.
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Key Statistics
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[icon_text box_type=”normal” icon_pack=”font_awesome” fa_icon=”fa-line-chart” icon_type=”normal” icon_size=”fa-5x” icon_animation=”q_icon_animation” icon_animation_delay=”200″ icon_position=”top” title=”16 million tons” title_tag=”h2″ text=”Annual volume of residue from rice, coconut, palm oil, sugar, oil, and wood industries” icon_color=”#ffffff” title_color=”#ffffff”]
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[icon_text box_type=”normal” icon_pack=”font_awesome” fa_icon=”fa-car” icon_type=”normal” icon_size=”fa-5x” icon_animation=”q_icon_animation” icon_animation_delay=”100″ icon_position=”top” title=”Over 272 million” title_tag=”h2″ text=”Barrels of fuel produced from sugar, coconut, and rice residue” icon_color=”#ffffff” title_color=”#ffffff”]
[icon_text box_type=”normal” icon_pack=”font_awesome” fa_icon=”fa-battery-full” icon_type=”normal” icon_size=”fa-5x” icon_animation=”q_icon_animation” icon_animation_delay=”200″ icon_position=”top” title=”374 MW” title_tag=”h2″ text=”Potential energy capacity of biomass projects” icon_color=”#ffffff” title_color=”#ffffff”]
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[icon_text box_type=”normal” icon_pack=”font_awesome” fa_icon=”fa-tree” icon_type=”normal” icon_size=”fa-5x” icon_animation=”q_icon_animation” icon_animation_delay=”400″ icon_position=”top” title=”Over 500 million” title_tag=”h2″ text=”Coconut trees that produce biomass” icon_color=”#ffffff” title_color=”#ffffff” text_color=”#ffffff”]
Incentives
- 100% foreign ownership
- Multi-year income tax holidays
- Reduced tax rate on gross income
- 0% duty on imports of equipment
- Tax credit on imports of raw materials and supplies
- Zero added tax for exports
Want to talk?
Request a free consultation with one of our investment specialists today.
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