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Greenergy signs agreement for Hanergy Solar products


GREENERGY Holdings Inc. on Thursday said it signed an international distributorship agreement with Hanergy Thin Film Power Asia Pacific Ltd. to sell solar power-related products in the Philippines.

Hanergy is engaged in the business of manufacturing and selling solar power-related products.

Under the agreement, Greenergy is appointed as Hanergy’s distributor in the country for the promotion and sale of all Hanergy solar products such as, but not limited to, the new and innovative Film Flat SOLARtile.

‘The agreement has a term of one year, with an option to renew for another year upon expiration of the original term,’ it said.

Hanergy’s CIGS thin-film solar chips allow a conversion efficiency of as high as 18.7 percent. The Philippines will be just one of a few countries such as Australia, New Zealand, Japan and the United States where Hanergy has allowed the preselling of the Thin Film Flat SOLARtile prior to its global launch later this year.

The exclusive distributorship comes at a time when the Philippines has a shortage of electricity.

Antonio Tiu, chairman of Greenergy, said, ‘this tie-up is very timely, as the company will be in a position to provide immediate solution in the metropolis to the current power crisis by expanding capacity with clean, renewable energy using thin film.’

Greenergy was originally incorporated as MUSX Corp. on January 29, 1992. It was established to engage in the creation, design, development and manufacture of specialty semiconductor products and to market and sell the same to customers worldwide.

In 1999, with the approval of its shareholders, the company became a holding company.

In the latter part of 2010, under a new management, the company began its initiative in venturing into other businesses and divested from the semiconductor business.

One of these business opportunities pertained to the field of renewable energy.

Following the divestment, the Securities and Exchange Commission approved the company’s proposal to change its corporate name to the present one.

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San Carlos BioPower breaks ground for bagasse-fired plant

April 13, 2013

MANILA, Philippines – San Carlos BioPower Inc. broke ground yesterday for an 18-megawatt bagasse-fired power plant project in Negros Occidental, an official of the Department of Energy (DOE) said.

The company, controlled by listed firm Greenergy Holdings Inc., would start the construction of the project to meet its December 2014 target completion date, said DOE director Mario Marasigan.

Biomass facilities are becoming more popular. These facilities produce clean renewable energy out of human, plant or animal waste. Sugar mills, meanwhile, produce large amounts of bagasse as waste, which in turn can be used to produce fuel for the biomass plants.

The biomass project will be built alongside the existing ethanol facility of San Carlos Bioenergy, another Greenergy unit.

The project is seen to boost electricity supply in the booming Visayas region.

Furthermore, the biomass project is seen to provide additional source of income for local farmers.

Last month, Greenergy, through subsidiary Biomass Holdings Inc., released P667.527 million to San Carlos BioPower, representing a 64-percent equity interest in the company.

This followed the execution of an investment agreement between Biomass and San Carlos Biopower.

“The release of the total investment price to SCB (San Carlos Biopower) completes the investment of BHI in SCB for the acquisition of 64 percent equity interest in SCB and shall enable SCB to commence the implementation of the 18 MW bagasse- fired power generation project in San Carlos City, Negros Occidental,” Greenergy earlier said.