Hyderabad: Hyderabad-based Nettlinx Ltd promoted Sri Venkateswara Green Power Projects is setting up a 12 MW Waste to Energy (WtE) Plant near Mucherla with a provision to expand to 14 MW with an investment of Rs 258 crore.
Nettlinx has partnered with two Japanese firms Takara Leben and Kuni Umi Asset Management to invest Rs 23.4 crore in Sri Venkateswara Green Power Projects.
The company will be investing Rs 78 crore through equity rate, with Japanese companies contributing 30 per cent of it (Rs 23.4 crore) while the remaining Rs 180 crore will be through debt.
The proposed plant will be built by SVGreen with technical collaboration with Hitachi Zosen, which has a track record of operating around 900 plants across the world. The upcoming plant which will convert 700 tonnes per day of GHMC waste into energy, will be operational in about 18 months from now. A power purchasing agreement has been signed with the State to sell power at Rs 7.40 per unit.
Presently, SVGreen has acquired suitable land, obtained necessary statutory clearances and approvals from the Telangana State Government agencies TSPCB, TSREDCO, TSERC, Municipal Department and other agencies to execute the project. The debt for the project is being arranged with lending banks in India.
SV Green Power Projects WTE Power Projects Advisor YVM Reddy said, “With GHMC generating about 5,000-5,500 tonnes of municipal solid waste every day, there is a potential to add at least 4 more power plants of
10MW-12 MW each. The company sees a potential of investing close to Rs 1,300 crore in Hyderabad alone. There are plans to set up one plant each of the same capacity at Karimnagar and Warangal.”
The company plans to set up a total of 10 plants with a cumulative capacity of 200 MW with an investment of Rs 2,580 crore within next five years.