Latest Stories

Greenergy to cash in on China ventures


MANILA, Philippines—Publicly listed Greenergy Holdings Inc. expects to start earning from its aggressive expansion program in China by the third quarter this year.

Company president and CEO Antonio L. Tiu told the Inquirer Thursday in an interview that Greenergy’s first venture in China involves plants that will produce a combined four megawatts.

Capacity will expand in the coming years with 15 new biomass energy plants to be built in Heilongjiang province.

Tiu said Greenergy was set to acquire a majority stake in Zhongshe Renewable Energy Corp., which has four biomass facilities producing 1 MW each.

“We recently signed the term sheet and are now conducting due diligence,” Tiu said.

The deal may be completed in the third quarter, Tiu said. The biomass business in China is thus expected to start contributing to Greenergy cash flow toward the end of the year.

Following the acquisition in the third quarter, Greenergy will lead the development of 15 more biomass projects that will be built all over the province. The biomass energy projects are being undertaken in synergy with the Heilongjiang Beidahuang Seed Group Co. Ltd.

Beidahuang’s farming business will provide the rice hull to be fed to Zhongshe’s biomass facilities.

The Beidahuang Group is the Chinese partner of publicly listed agribusiness firm AgriNurture Inc., an affiliate of Greenergy.

The Chinese group and ANI formed Beidahuang Philippines to grow high-yielding rice varieties in the Philippines.

Follow Us

Follow us on Facebook Follow on Twitter Follow on Twitter

Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Business , China , Energy , expansion program , forecasts , Greenergy Holdings , Philippines

  • koolkid_inthehouse

    They want investors from the Philippines? The company head office in China and accounting is also in China? Are they listed in the PSE and how the h3ll can you check if they’re not cooking the book?

Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94


  • Obama due in Seoul as North Korea nuclear test fears grow
  • Hold departure order out vs Corona, Singson
  • Malaysia to release MH370 report–PM
  • Man found dead in Quezon City, alleged victim of summary execution–report
  • Aquino to lead Air Force turnover rites
  • Sports

  • Michael Phelps loses to Lochte in comeback meet
  • Sharapova advances to Stuttgart quarterfinals
  • Galedo caps ride of redemption
  • Beermen, Express dispute second semis slot today
  • Lady Agilas upset Lady Bulldogs in four sets
  • Lifestyle

  • ‘Recovered’ Banksy works on display ahead of sale
  • Marinduque: Visiting the ‘palm of the ocean’
  • First at Vatican in 60 years
  • How Jing Monis Salon gave Krissy the pixie
  • Want to be a supermodel? Work on your inner beauty, says Joey Espino
  • Entertainment

  • Paul McCartney to play at Candlestick concert
  • Kristoffer Martin: from thug to gay teen
  • Has Ai Ai fallen deeply with ‘sireno?’
  • California court won’t review Jackson doctor case
  • Cris Villonco on play adapted from different medium
  • Business

  • PAL hailed for ban on shark fin cargo
  • BSP to change tint of P100 bill
  • Nielsen sees car buying boom in the Philippines
  • How author of best-seller exposed ‘one percent’ economic elite
  • Bangko Sentral readies new bank lending rules
  • Technology

  • Cloud strength helps Microsoft earnings top Street
  • Vatican announces hashtag for April 27 canonizations
  • Enrile in Masters of the Universe, Lord of the Rings?
  • Top Traits of Digital Marketers
  • No truth to viral no-visa ‘chronicles’
  • Opinion

  • Editorial Cartoon, April 25, 2014
  • No deal, Janet
  • Like making Al Capone a witness vs his gang
  • MERS-CoV and mothers
  • A graduation story
  • Global Nation

  • China welcomes PH apology
  • Only 4 Etihad passengers not accounted for
  • Abandoned in Malta,15 PH seamen return
  • Senator hopes PH will also get same vow
  • HK victims to get P115M; traders raised money
  • Marketplace