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January 03, 2012

TGEG Signs Green Energy Contract for One Hundred and Forty Million Dollars
By Raju Shanbhag
TMCnet Contributor

True Green Energy Group has signed a (LOI) with Beltran Technologies Inc. to supply, deliver, supervise and install 20 units of its complete modular standard MSW gasification systems.

In the first phase of its project alone it will employ 11,000 people in three major provinces in the Philippines, the TGEG green energy consortium estimates. The consortium plans to expand that number to 100,000 within 18 months of the first system being installed in the city of San Fernando Pampanga, Philippines. Pioneer shareholders and CJ Consortium invested in this project who became stockholders in TGEG and finalized a one billion euro (1,000,000,000.00) line of credit to fund TGEG Bio Green power plants and low cost housing projects, the company stated in a press release.

Ronald Flynn, founder, and chairman of the board, True Green Energy Group, said, "Our energy consortium includes companies from around the world. These companies include True Bio Electric, CJ consortium, in addition to other green energy technologies from other countries and partners like Voga Brazil, Pacific Tech, True Green Planet, and Spectrum (News - Alert) Blue Steel Corporation.”

Beltran has agreed that the time to design, fabricate, build, supply and deliver shall not exceed four months and installation of said system shall not exceed one month, because of the enormity of this contract and with so many contracts already in place by True Green Energy Group. Along with control system and steel frame structure, the entire system includes gasifier reactor with ash discharge, gas clean up system including, cyclone filters, heat exchangers WESP, gas suction blower, pipe work, syngas flare stack, instruments.

The company recently announced that it has accumulated a large amount of capital which will be used to build 500,000 homes in the Philippines. In addition, the company plans to work with the government to accumulate all landfill and garbage dump sites in order to create clean green energy power plants. The company aims at reducing pollution through the reuse of waste to create clean green energy. The company clarified that Universal Recourses development purchased 25.5 percent of TGEG stock.

Raju Shanbhag is a contributing editor for TMCnet. To read more of Raju’s articles, please visit his columnist page.

Edited by Rich Steeves


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