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EURO-MED Laboratories Philippines Inc. has bagged tax incentives and
other perks from the Board of Investments (BOI) for the company’s
plan to install and operate a stationary fuel cell power plant that
would cut the pharmaceutical maker’s energy costs.
In its application before the BOI, Euro-Med said
it would invest P1.324 billion for the power plant, which would be
put up in Aguinaldo Highway, Dasmariñas, Cavite, and is expected to
be operational in June 2010. The fuel cell would generate prime
power of 400 kilowatts to supply at least 25 percent to 30 percent
of the firm’s average electrical load.
Upon completion of the project, the company said
it expects to reduce its dependence on commercial fuels, and save
about P48 million a year in fuel consumption.
A study conducted by the firm shows that fuel
cell technology is one of the most efficient and
environment-friendly sources. A fuel cell uses compressed natural
gas (CNG) or hydrogen, and combines them with oxygen from air to
generate electricity.
Since the power plant will utilize CNG and
hydrogen, the company expects to cut down its importation of fossil
fuel, thus reducing reliance on the said energy source.
Also, emissions of other gases are significantly
less than traditional power-generation systems, and within mandatory
environmental restrictions. Based on measured data, a fuel cell
power plant creates less than one ounce of pollutants per 1,000
kilowatt-hours of electric power produced, compared with 25 pounds
of pollutants by combustion-generating methods.
Fuel cell power plants are also low in emissions
that some areas in the US have exempted them from air permit
requirements. Fuel cells are also very quiet, thus reducing noise
pollution.
Euro-Med is a 99-percent Filipino-owned
corporation that manufactures pharmaceutical products and
intravenous fluids.
-- Ben Arnold O. de Vera
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