Greenergy acquires 50% stake in Isabela Alcogas ethanol project in Philippines

In the Philippines, BusinessWorld Online reports Greenergy is taking a 50% stake in Isabela Alcogas for P25 million payment to Isabela, which has to more than 15,000 hectares of land to support a planned cogeneration ethanol and power plant.

Antonio L. Tiu, Greenergy CEO told BusinessWorld Online, “We’re putting in fresh capital into the company. The P25-million investment will give us about 50% of the firm but there will be advances later as more capital is needed for the ethanol project.”