Platinum Global Power will invest in the construction and operation of a biomass co-firing power project located at key selected city in Japan and later in the Philippines and in other countries.
Today, Platinum Global Power, an affiliate of Platinum Capital Europe Ltd., will be signing the Shareholder Agreement for this project with its collaborating partners. Preparation for construction of the power plant will start during the year 2018 – 2019, and commercial operation is scheduled to start in 2023 – 2024.
The new power plant will have a total capacity of 100 MW. An environmental assessment is in the works now and the project will operate in an environmentally friendly manner. It will be partly operated by biomass fuel and supply steam to its project sites as well as generate electricity. The electricity off-taken by Platinum Global Power will be sold to end users through its wholly-owned subsidiary, Platinum Capital Europe Ltd. and its collaborating electric – power companies.
Platinum Global Power has been developing and operating domestic biomass business in the State of Oregon, USA through its company the Biomass One Operating Co. Inc. with various environmentally-friendly energy sources such as biomass, solar, wind, hydro and thermal. Platinum Global Power will continue contributing to the stable supply of electricity and activating the local economy through this project.