Loxley to invest in Thai algal biodiesel venture

In Thailand, Loxley Plc, one of the country’s leading trading companies, has set its 2012 investment budget for US$64.2-96.3 million (2-3 billion baht), which will be spent primarily on renewable energy.

The Company will spend most of the budget to expand its joint-venture solar farm in Prachin Buri and on a project to develop biodiesel from algae. The biodiesel project is a joint venture between the Thai Energy Ministry, Bangchak Petroleum and Ratchaburi Electricity Generating Holding.