German specialty chemicals group Lanxess is investing 7mn euros (US$9.5mn) to install a sugarcane bagasse energy and steam production plant at its site in Porto Feliz in Brazil's São Paulo state, Lanxess Porto Feliz site manager Robert Madersdorfer told journalists at a press conference.
Works are scheduled to begin at the end of 2008 and last 15 months.
The plant startup is expected early 2010 and to result in the reduction of CO2 emissions by 44,000t/y.
The project will be 80% financed by a loan from national development bank BNDES.
The company later plans to sell carbon credits. "We already started the process of certification and that takes at least 12 months to complete," Madersdorfer said.
When the power plant is ready, the site will be independent from external energy supply on a permanent basis.
COGENERATION PLANT
The power facility is the first in the world to use sugarcane bagasse as an energy source, and able to generate steam and 4.5MW of power, enough to supply the Porto Feliz site with all its energy needs.
"We chose Brazil because of the source availability and the country has shown a great potential through well executed projects in the sustainability area," Madersdorfer told BNamericas.
"There are similar projects going on now in India and Belgium, but using different kinds of renewable sources," the executive added.
According to the company, through the use of this renewable and environmentally friendly bagasse, production will be entirely CO2 neutral, as the amount emitted is equivalent to what the plants consume during growth.
RESULTS
"While companies are reviewing their results projections downward, we are maintaining our growth forecast for Latin America despite the international crisis," said the CEO of the Lanxess subsidiary in Brazil, Marcelo Lacerda.
"Brazil is extremely important for Lanxess' development, as the country accounts for 10% of global sales. We expect to grow some two digits above the local market," he added.
According to the executive, the acquisition of Brazilian rubber producer Petroflex strengthens the company's position in the market, as the tire and automotive industry have been registering record results.
"Lanxess wants to grow and we do that through acquisitions. But those acquisitions, to be profitable, need to add value to the company and not detract from our course of financial discipline. Therefore, we follow the criteria established by our board for selection of potential markets," Lacerda said.
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