Carbon Capital to launch $60 million in biogas, biomass projects in Sarawak; $600 million more for jatropha, palm cultivation in JV with Japan Carbon Mercantile

March 4, 2008

In Malaysia, Carbon Capital will launch $60 million in biogas and biomass projects in Sarawak, including a 10 megawatt biomass power plant using palm fruit waste, and four biogas projects. The company specializes in projects built under the Clean Development Mechanism, which offsets traditional fossil fuel usage in other parts of the world with investments in emissions-reducing projects, many in developing countris.

The company will also joint venture with Japan Carbon Mercantile on up to $600 million in jatropha and oil palm cultivation in Sarawak.

In Malaysia, the national government has proposed a $103 billion “Sarawak Corridor of Renewable Energy” (SCORE) development plan, which includes heavy investment in jatropha and palm-based biodiesel production. The government made the annoucnement after plans were revealed for a $308 million development in Sarawak by a Malaysian-Japanese consortium that would develop 220,000 acres of oil palm and jatropha plantations to produce 240,000 tonnes of biodiesel per year.

Recently, Malaysian development efforts in palm and jatropha have been more focused on nbeighboring Sabah state.

Sabah announced last month that it would seek $304 million over 18 years from the Federal Government to assist in the development of its Palm Oil Industrial Cluster (POIC) in Lahad Datu. The Sabah Land Development Board (SLDB) also demonstrated jatropha biodiesel in a Toyota Land Cruiser trial conducted at the Sabah Development Corridor Expo. The SLDB has proposed expansion of jatropha capacity in Malaysia as a poverty-reduction program, saying that farmers could earn RM 1500 per month from farming 6-acre plots of jatropha curcus, from seedlings provided by Borneo Alam Ria Biomatrix.

The SLDB general manager said that Nihon Biotech, Kelana Stabil and TKM Resources have indicated that they would invest up to RM 300 million in jatropha cultivation and would purchase the fuel for export to the US, Japan and South Korea.

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Written by Jim Lane · Filed Under International, Producer News