Renewable energy firm PowerSource Energy Services Inc. will develop a 2-megawatt biomass-fired power plant in Pepsi-Cola Products Philippines Inc.’s factory in Cagayan de Oro City.
The power plant, estimated to cost around P200 million, will be wholly financed by PowerSource, Pepsi-Cola said in a statement Thursday.
Pepsi-Cola — maker of softdrinks Pepsi-Cola, 7Up, Mountain Dew, and Mirinda — said that PowerSource will supply its factory with electricity for 15 years.
The beverage firm said the power plant will use coconut shells and husks and other coconut residues as fuel feedstock.
“This will result in additional income and livelihood support to farmers in neighboring districts,” Pepsi said.
PowerSource founder and CEO Frederick LaCroix said developing Pepsi-Cola’s power plant is one of its “major corporate steps” as the beverage firm is one of the leading manufacturers of soft drinks.
The power company specializes in developing, building, and operating facilities that reduce the carbon footprint and energy expenses of large corporate customers.
Development of the biomass-fired power plant still start next February, Pepsi-Cola commercial director Gabby Gabinete said, adding that the project will spur the growth of environmental entrepreneurship.
“As the demand for biomass materials grows significantly, farmers and environmental advocates will identify new opportunities to convert agricultural wastes to additional income,” Gabinete said.
With the use of renewable energy, Pepsi-Cola expects 20 percent average savings in its operating cost, he said.
Pepsi-Cola plans to forge tie-ups with renewable energy developers for the 11- to 15-MW requirement of its 11 manufacturing plants. Gabinete said.
The renewable energy facilities will be located in La Union, Pampanga, Muntinlupa, Naga, Cebu, Bacolod, Leyte, Iloilo, Zamboanga, Davao, and Cagayan de Oro.
article by Jesse Edep/VS, GMANews.TV