MACKAY Green Energy (MGE) is confident it will sustain the growth of its business by end-2017, following its 200-percent revenue increase about a-year-and-a-half ago. Without divulging the exact amount of topline, MGE Chairman James R. Mackay attributed the firm’s improved performance to strong demand for biomass in the country.

“You don’t have enough biomass in the Philippines. So at some stage, the market will come to a point when it will have to purchase. Right now, rather than purchase locally, they’re purchasing from Malaysia and Indonesia,” he told the BusinessMirror in an interview.

Biomass and other clean and renewable energy (RE) sources, like geothermal, hydro, wind and solar, are among the country’s few competitive advantages since it has no significant deposits of fossil fuels. However, its continued dependence on imported fuel has made electricity rates in the Philippines among the highest in Asia.

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