Clenergen, based out of Florida is a recent entrant in the biomass based IPP space and has rapidly been signing on new projects. The company in December last year had announced the signing of an agreement, this time to Operate a 27MW Biomass Power Plant that is expected to be fully operational by first quarter 2011.
The company had earlier entered into an agreement with Yuken India Limited to Install a 4 MW/h Gasification Power Biomass Plant operating on gas engines at their manufacturing facility in Bangalore, India. The company had been in the news in May last year for acquiring 5000 acres on a long lease for a 32 MW project and had gotten into contracts for plantation trails for the same.
Clenergen is also one of the first American companies in India, that has undertaken Bio-fuels and plantations with agronomy management services from local universities and biotech companies in India that seems to have helped it address the feedstock risk in biomass projects.
Clenergen Corporation (OTCQB: CRGE)(FRANKFURT: 9CE) announced today that it has commenced generation of electricity at the 27MW/h cogeneration power plant, located adjacent to its 18MW/h biomass power plant in Kancheepuram, Tamilnadu.
Total revenues from power generation at the cogeneration power plant on an annual basis are expected to exceed US$ 20 million.
Clenergen India Private Limited, a wholly owned subsidiary of Clenergen Corporation, has arranged the sale of power exported from the 27MW plant to blue chip corporate clients at premium rates in return for round the clock supplies of electricity. Initially, the production of 15MW of power every hour will be sustained until the plant refurbishment is completed later this year, after which the plant is expected to operate at a full capacity.
Commenting on this development, Tim Bowen, Chief Executive Officer of Clenergen Corporation, said “the additional operating revenues generated from the power plant will allow the company to scale up its technical, sales and engineering management teams, as we prepare for several new biomass power plants under contract and scheduled to be operational in 2011.”