A Chinese company is building a $300 billion biomass plant in the Philippines.
It’s the largest such plant in Southeast Asia.
The company, SunEdison Philippines, is building the plant in a coastal town on the outskirts of Manila that is expected to generate enough electricity to power 20 million homes.
The plant is expected, however, to be much larger than SunEdson’s current plants, which produce about 2.5 million kilowatt-hours of power a year.
SunEdington, the world’s largest producer of biomass, said it expects to have about 25,000 plants on the Philippines, a country of more than 180 million people.
It also has plans to build another 5,000-megawatt plant in Vietnam that it is leasing from the Vietnam Investment Corp., according to a person familiar with the matter.
SunEdison’s first biomass plant was installed in Singapore, in October 2016.
It was the largest biomass plant to be constructed in Southeast Asian countries since the country’s first one was built in 2002.
The Philippines, the biggest producer of tropical forest products in the world, is one of Southeast Asia’s biggest consumers of wood products.