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28 January 2004 - Japan's Chubu Electric Power Co. said Tuesday that it would take part in a biomass power generation project in Thailand that qualifies under Kyotos' Clean Development Mechanism (CDM) initiative.
The central Japan power company plans to acquire a 34 per cent stake in A.T. Biopower Co., a Thai biomass joint venture, by investing and lending 600 million yen ($5.7m).
A.T. Biopower is working to build a 20,000kw thermal power plant that uses rice husks to produce energy in the north-central part of the Southeast Asian country. Chubu Electric plans to send personnel to the Thai firm. The facility is slated to begin operating in December 2005.
The project has a good chance of becoming the first in Thailand to qualify for the World Bank's Clean Development Mechanism initiative, which generates carbon emission rights, according to Chubu Electric.
The company has also decided to invest in the Global Asia Clean Energy Service Fund, an investment fund specializing in energy conservation projects to be set up in the near future by Mitsubishi Corp. and FondElec Group Inc. of the
U.S.
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