The Tamil Nadu and Karnataka plants will run using beema bamboo and marjestica, a tree native to China and parts of Asia.The demonstration power plant was shut down in 2007 due to operational cash flow problems and its failure to remain profitable at a low tariff rate.
Power Trading Corporation of India and the Indian subsidiary of Clenergen Corporation have agreed to set a higher tariff rate under a power purchase agreement to revive one of India’s national demonstration projects.
The new carbon neutral Namakkal power plant is expected to generate $1 million in revenues in its first year of operation. Carbon credits are already being assessed, according to Dr. Arvind Pandalai, non-executive group chairman of Clenergen India.
The company will also install two additional biomass power projects in Tuticorin, with a capacity of 16 MW, and Karnataka, which will produce 64 MW. The Tuticorin power plant is expected to begin commercial operation by the end of 2010.
The new plants will cost an estimated $236 million. The company has plans to raise $83 million from the Indian stock market to finance the projectsThe Tamil Nadu and Karnataka plants will run using beema bamboo and marjestica, a tree native to China and parts of Asia. The company has partnered with Growmore Biotech Limited based in Hosur for the production and supply of the feedstock.
No comments:
Post a Comment