Acropower to build waste-to-energy unit on Chew’s poultry farm site
Category: #world  By Dhananjay Punekar  Date: 2018-03-27
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Acropower to build waste-to-energy unit on Chew’s poultry farm site

Acromec Limited, a Singapore-headquartered engineering services firm, has declared that its subsidiary, Acropower, has signed an MoU with HL Plus. The deal entails the construction, ownership, and operational responsibility of a waste-to-energy unit on the future poultry farm location of Chew’s Agriculture near New Tiew Road in Singapore.

Reliable sources cite that HL is likely to acquire Chew’s Agriculture, a division of Chew’s Group, through the purchase of totally issued as well as paid up share capital of the latter. For the record, earlier this month, HL Plus signed an agreement with the Chew’s Group to purchase four of its divisions, namely, Chew’s Group Investment, Chew’s Agriculture, Chew’s Group Marketing, and Chew’s Engineering Services for nearly USD 11 million in cash.

As per the MoU agreement between HL and Acropower, Chew’s Agriculture will be providing 70 tons of chicken manure to the Waste-to-energy unit daily. Acropower is likely to treat the manure and use the converted biogas for producing electricity. In return, the pact is expected to support Chew’s efforts in disposing off waste at much lower costs. It has been forecast that Acropower will accrue benefits from the sale of power supply back to the poultry farm at a rate similar to that charged by Singapore Power, a corporate body of the former electricity & gas department of Public Utilities Board in the country.

The terms & conditions of the MoU also state that Acropower will have to incur the expenditure of building, owning, and operating the establishment. The firm is also expected to pay a rental fee to Chew’s Agriculture on a yearly basis at the rate negotiated between HL and Acropower.

Lim Say Chin, the executive chairman of Acromec, has emphasized that the proposed venture depicts the firm’s entry into the renewable energy business, which is in alignment with the company’s green energy perspective & approach.



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Dhananjay Punekar

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Dhananjay Punekar

Dhananjay Punekar presently develops content for a slew of portals, including Market Size Forecasters and Algosonline. A post graduate in mathematics and business administration, he worked in Infosys BPO Limited prior to switching his professional genre. As a content wr...

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