BioFuel Projects International and Plant.a.Bio plan 10,800 acre jatropha pilot development in Brazil
In the Netherlands, BioFuel Projects International and the Brazilian company Plant.a.Bio signed a memorandum of understanding to develop a 10,800 acre jatropha plantation in Brazil. The pilot plantation will demonstrate the economic viability of jatropha on marginal land in Brazil as well as provide a training and test facility for expanding to commercial-scale.
Jatropha continues to be the subject of intense development. Recent projects include:
• China Agro-Technology announced that it has secured $300 million in financing for biodiesel acquisitions and operations. The company is focused on building capacity to process jatropha oil to supply the growing demand lower-cost biodiesel.
• China Agro-Technology recently signed an agreement with Boulevard Holdings to acquire 494,200 acres in Indonesia for jatropha cultivation. The company valued the jatropha revenue stream at $300 million based on the expected demand and pricing for jatropha oil, ranging from a projected $650 to $750 per ton. The company expects to commence harvesting in 2010.
• The Sabah Land Development Board (Malaysia) demonstrated jatropha biodiesel in a Toyota Land Cruiser trial conducted at the Sabah Development Corridor Expo. SLDB’s 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.
• In China’s largest state oil company, Sinopec, said it will invest $5 billion in jatropha and palm plantations in Indonesia.
• In the United Arab Emirates, the Crown Prince of Abu Dhabi announced an $15 billion investment project in renewables, managed by Masdar. Masdar’s major initiative in bio-fuels is focused on jatropha and other arid climate crops.
• D1 Oil is planting 50,000 hectares of jatropha, in a joint venture with BP, in Africa, India and Southeast Asia. D1’s CEO said that the company can produce jatropha biodiesel profitably as long as the price of oil exceeds $65 per barrel, and will have developed more than 32 Mgy in jatropha capacity by 2012.
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