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VICHAYA PITSUWAN
Sindicatum (SCC), a London-based carbon credit trading firm, has made an investment worth US$80 million to develop biogas plants from municipal landfill.
Sindicatum has entered into a venture with GR-Tech, a local alternative fuel company established by Piroon Shinawatra, a nephew of former prime minister Thaksin Shinawatra.
The companies will build electricity plants fuelled by biogas from municipal landfills in Chiang Mai and Bangkok.
Mr Piroon, the GR-Tech president, said the venture had registered capital of 20 million baht and may raise more funds to expand in the future.
The Chiang Mai plant now under construction will manage 400 to 500 tonnes of municipal waste daily to produce 1.2 megawatts of electricity. The project in Bangkok would manage 5,000 tonnes daily from waste at the Kamphaeng Saen landfill to produce 8.5 MW.
GR-Tech has purchased rights to manage municipal waste from the Sasomsab group, which won a licence from the Bangkok Metropolitan Administration.
The Bangkok project will require an environmental impact assessment (EIA) and will seek Board of Investment (BoI) incentives. Mr Piroon is hopeful that it could start operating by year-end.
''I am aiming to see both projects make 300 to 400 million baht yearly revenue from selling power and carbon credits,''he said.
Both projects are expected to give SCC access to 658,000 tonnes of carbon emission reductions (CERs) yearly for the next 15-21 years.
William Byun, the SCC representative director said the carbon credit market was facing severe credit scarcity worldwide so the trading company needed to promote credit availability through investing in clean development mechanism (CDM) ventures.
''We are more than willing to provide financial support, technology and expertise in clean energy worldwide.''
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