Two new biofuel projects announced at Clinton Global Initiative
The project from the Petra Group is a $100 million commitment over 10 years to "To eradicate poverty and create sustainable employment and wealth in the West Indies through the establishment of a Jethropha Curcus powered Bio-diesel plant and supporting plantations and nurseries." The governments of St. Vincent and the Grenadines and Guyana are supporting this project.
FourWinds is already starting with its project, a plan to "develop investment programs in closed systems that focus on tropical biofuel production projects that maximize environmental and social welfare." The expected cost is $300 million over four years.
Two attempts to make biofuels in the tropics, with social welfare components? That sounds great to me, but let's not forget that it's a tricky thing to balance biofuels in the tropics with environmental concerns (see here and here). Other 2007 CGI commitments are available here.
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