EcoSecurities to develop bio-mass based power projects

Chennai, Nov 27 (UNI) EcoSecurities, the world's leading company in the business of originating, developing and commercializing carbon credits from greenhouse gas emission reduction projects, would develop biomass-based power projects for EMPEE Sugars and wind mill-based power projects for Shriram EPC.

The projects were aimed at expanding Clean Development Mechanism (CDM) awareness amongst the Small and Medium Enterprises (SME) sector in Tamil Nadu.

Addressing reporters here today EcoSecurities Country Director Pranav Nahar said the aim was to increase the registered projects by 50 per cent in the state and make Tamil Nadu the leading state on CDM project awareness implementation.

Empee Distilleries Power Projects General Manager G Sankarraj said the company would be setting up two 7.5 MW biomass-based projects at Pudukkottai and Perambalur districts and a 20 MW co-generation project at Nayudupet in Andhra Pradesh, together that would generate 1,70,000 Certified Emission Reductions (CERs) per annum. The total investment on these projects would be around Rs 160 crore.

The Pudukkottai project, which would be scaled up to 10 MW with a total investment of Rs 44 crore, would become operational by June 2007, while the Perambalur project would go on stream in June 2008.

These two projects would generate about 40,000 CERs each per annum, while the Nayudupet project would generate about 80,000 to 90,000 CERs and Empee had signed a reduction purchase agreement with EcoSecurities, which would buy the carbon and get CDM registered with the UNFCC.

A company official later told UNI, "though the company might earn Rs eight to nine crore as revenue per annum based on the current trend (each CER is equal to one tonne of Carbondioxide reduction and is worth 3-5 euros), the more significant factor is company's contribution to reduction of carbon emission".

Shriram EPC General Manager Marketing N Ramkumar said the company would set up a 42 MW bundled wind power project with 168 wind machines of 250 Kilo Watt each. With a Plant Load Factor of 25 per cent, the project would yield ten MW of power with one MW generating 2000 CERs. The company had tied up with Eco securities for CDM.

UNI GV GKT 1825