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UK entrepreneur to invest Rs 1500 crore in waste to energy plants in South India

According to reports, a UK-based entrepreneur specialising in converting waste to energy has proposed to invest Rs 1500 crore in several South Indian cities to set up plants in the next five years with advanced technology to tackle the waste menace.

GJ Nature Care &Energy (GJNCE) promoted by Giby George has won the global bid for the waste-to energy project in Kochi . He is also in advanced stage of negotiation with the state governments in Kerala, Tamil Nadu, Karnataka and Andhra Pradesh to build units on design, build, operate and transfer model to convert municipal solid waste into energy and other value added products like building blocks.

“We would invest Rs 300 crore in Kochi plant to generate 10 mw of power. We expect to collect 300 tonnes of waste from the city every day,” Giby George said. The plant will be set up on public private participation (PPP) model in association with the Kerala government.

On getting the clearance for 20 acres from the state government in the next few months, the firm will start construction and expects to go on stream in 18 months. ” Right now the total investment will be from our side and the government and the Kochi Corporation will ensure the supply of municipal solid waste,” George said.

The power generated will be bought by the state electricity board. ” Since we are investing a large sum the cost of power will average around Rs 13 per unit. It will be green power and the cost can come down if there is higher supply of waste,” he said. Building blocks and other value added products will be made from the by-products.

The waste to energy project proposed in Chennai will have an investment of Rs 1000 crore and will have capacity to convert 5000 tonnes of waste. ” The Chennai Corporation is considering 20 to 40% equity stake in the project,” George said. In the pipeline is a unit near Bengaluru airport. George is also in talks with municipal corporations in Madurai and Coimbatore.

While GJNCE has been set up for Kochi project, GJ Eco Power will deal with projects in other states. Biomass Power Ltd. , the special purpose vehicle (SPV) partner of these companies, under Giby George, has the expertise of setting up 40 such projects in different parts of the world.

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