True Green Energy Group, a leading green energy company providing the most prolific waste management and renewable energy solutions 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.
In a press release, TGEG clarified that Universal Recourses development purchased 25.5 percent of TGEG stock for one billion two hundred fifty million euro (approximately $3.3 million).
“TGEG will make a big contribution to helping the Republic of the Philippines because of the titanic investment made into our public company by Mr. Paul Lu, President of Universal Resources Development Incorporated, who also represents the interests of several prospective construction companies and multi-billion dollar firms in China, including but not limited to CITIC Group, China State Engineering construction Corporation, and China Railroad Engineering Construction Corporation,” the C.E.O of True Green Energy Group, Renato Lee III, noted in a statement.
TGEG and CJ Consortium have already met with the authorities in the Philippine home development mutual fund (PAGBIG) housing in order to initiate the housing project that is scheduled for 2012 take-off.
“TGEG will build 500,000 homes in the Philippines in addition to working with the government to accumulate all landfill and garbage dump sites in order to create clean green energy power plants that will reduce pollution while reusing the waste to create clean green energy,” founder and chairman of TGEG revealed in a statement.
According to the Philippine National Statistics Office only about 10 percent of sewage in the Philippines is treated or disposed of in an environmentally sound manner. The rest goes back to nature – usually the sea.
In this context of poor waste treatment and high population growth, water pollution is a growing problem for the country's groundwater, rivers, lakes, and coastal areas. Along with pollution a problem, growing number of street children is a significant problem the Philippines. According to the latest report, there are about 2.5 million street children in the Philippines. According to the 2011 report more than 33 percent of the people in the Philippines are homeless. TGEG’s mission is to help the impoverished Filipino masses through building homes and funding of free schools up to the tertiary level.
Early this year, True Green Energy Group and Spectrum Blue Steel announced the opening of their ambitious green energy power plant project at the San Fernando in Philippines.
Madhubanti Rudra is a contributing editor for TMCnet. To read more of her articles, please visit her columnist page.Edited by
Rich Steeves
