Japanese, Indian firms combine in building waste-to-energy plant
By Atul Ranjan
NEW DELHI, NNA -Japanese real estate firm Takara Leben Co. and infrastructure developer Kuni Umi Asset Management Co. are joining with an Indian firm to build a 12-megawatt waste-to-energy plant in the southern Indian city of Hyderabad.
The Japanese firms will combine to invest a 30 percent stake in the garbage-fired plant scheduled to start operating in 18 to 24 months, according to Indian internet infrastructure firm Nettlinx Ltd., which last year acquired a 51 percent controlling stake in Sri Venkaeswara Green Power Projects Ltd., the plant builder.
Nettlinx said it and the Japanese partners will receive technical assistance for the proposed plant in Telangana State from Hitachi Zosen Corp., which has operated around 900 plants around the world.
The Japanese-Indian partnership in the green energy sector comes as the South Asian country looks to lessen the impact of power generation on the natural environment.
The proposed state-of-the-art 12-megawatt WTE power plant, to be upgraded to 14 megawatts, will convert 700 tons of waste per day into energy, Greater Hyderabad Municipal Corp. said.
"The WTE project entails an investment of 2.6 billion rupees ($35.7 million), which will be funded by a mix of debt and equity," a person close to the matter told NNA. "Of the total investment, 1.8 billion rupees will be raised from banks, and the remaining 0.8 billion rupees will come from the promoters including the two Japanese firms."
The Bombay Stock Exchange-listed Nettlinx said the project has acquired suitable land, obtained necessary statutory clearances and approvals from the relevant authorities.
Nettlinx also said Takara Leben and Kuni Umi are considering follow-up investments in its various WTE projects. (NNA/Kyodo)