Project Snapshot: Buchanan Renewables Fuel
Sector Renewable energy; biomass, rubber
Challenge Make use of large volumes of rubber trees that have reached the end of their latex producing lives by harvesting them and producing wood chips to fuel biomass power plants. Export to address shortage of biomass fuel in Europe, used to reduce greenhouse gas emission from coal consumption, through co-firing in existing coal-fired power plants.
Solution Debt financing for Buchanan Renewables Fuel Inc. of Monrovia to cover clearing and transportation of old trees, production of biomass from wood, planting of new seedlings to revive the rubber industry, and purchase of new materials handling facility to support the project.
Impact Neglected rubber industry in Liberia is revived, a biomass fuel industry is created from the waste product of Liberia’s biggest industry, and a renewable, sustainable, domestic fuel supply is created. 700 local jobs created.