Dec. 20 (Bloomberg) — Advanced Plasma Power Ltd., a U.K. developer of waste-to-energy technology, plans to expand in Southeast Asia as growing cities drive up electricity demand.
The region is a “good market” for power plants that use waste from homes and businesses to generate electricity, Rolf Stein, chief executive officer of London-based Advanced Plasma, said in a telephone interview. There’s also more of such trash available as more people move to urban areas, he said.
“Governments in Southeast Asia are addressing these challenges with necessary regulation, whilst recognizing the potential employment opportunities that this sector brings,” according to Stein, who said he won’t rule out opening a local unit. “The region is also growing strongly economically.”
The company has seen an increase in inquiries in Southeast Asia following a U.K. trade visit that it joined this month, and is looking at countries including South Korea, Malaysia, Singapore and the Philippines. “We have made good contacts as a result of this trade mission, which we expect will lead to new opportunities,” the CEO said.
Biomass projects in Southeast Asia accounted for as much as 36 percent of the region’s 7.4 gigawatts of renewable-energy capacity as of May, according to London-based researcher Bloomberg New Energy Finance. Thailand accounts for 70 percent of the region’s biomass power market and the industry is expected to boom in Malaysia, BNEF said.
Advanced Plasma also plans to build 10 projects in the U.K. that use waste from homes and businesses to generate electricity and heat. The company expects the plants to have 160 megawatts of capacity and cost about 400 million pounds ($651 million).
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