Green Options

Hong Kong magnate Stanley Ho is at it again. Not formulating a “Ho Plan” for Hong Kong energy security that centers around wind power, as the growing similarities between him and T. Boone Pickens might suggest. Stanley Ho’s investment du jour, while on par with his recently established eco-trend, will not be in Asia. Rather, the biofuel play will be located off of the Western coast of Africa.

Geocapital, a Macau-based investment holding company started in 2007 and comprised of partner investors Stanley Ho and Jorge Ferro Ribeiro, is in negotiations with the Government of Cape Verde to install a biofuels research and development center on the African archipelago, Portugal’s Lusa news agency recently reported.

The pair hopes to take advantage of Cape Verde’s experience producing biofuels from jatropha, a crop that yields ten times the output of corn plants. Jatropha-based biofuel is considered one of the best candidates for future biofuel production, and has already been successfully tested as a substitute for jet fuel in commercial airplanes. The poisonous seed has a long history as a fuel source: in the early 1900s, it was exported to France and Portugal for use in streetlamps.

Hong Kong tycoon Stanley Ho is most famous in business for his vast and infamous casino empire and unofficial title as one of Asia’s richest people (his estimated US$8 billion net worth earned him the 113th rank in Forbes’ 2007 list of “the World’s Billionaires”). Might news of his recent clean energy joint venture with Portugal’s top power company bring him a new title: “the Chinese T. Boone Pickens“?

According to Macauhub, a government-sponsored news publication-cum-commerce division that reports business-related news in the Pearl River region and in Portugese-speaking countries, Ho has created a renewable energy partner firm with Portugal’s Energias de Portugal (EDP), which will be known as EDP-Energy Solutions Asia.