Japanese Firm Invests in Thai Biomass

February 3, 2004 [SolarAccess.com] Chubu Electric Power announced it will take part in a biomass power generation project in Thailand, the Nihon Keizai Shimbun reported in its Wednesday morning edition. The central Japan power company plans to acquire a 34% stake in A.T. Biopower, a Thai biomass joint venture, by investing and lending Y600 million (US$5.6 million). Chubu Electric will also send its personnel to the Thai firm, the Nikkei reported. A.T. Biopower is working to build a 20,000 kW thermal power plant that uses rice husks to produce energy in the north-central part of the Southeast Aian country. The facility is slated to begin operating in December 2005. The project has a good chance of becoming the first in Thailand to qualify for the World Bank’s Clean Development Mechanism initiative, which generates carbon emission rights, according to Chubu Electric. The company has also decided to invest in the Global Asia Clean Energy Service Fund, an investment fund specializing in energy conservation projects to be set up in the near future by Mitsubishi Corp. and FondElec Group Inc. of the U.S.
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