Regulation

Staff Reporter

, India

Published:

13 years ago

Shalivahana's biomass power projects get $15M funding

International Finance Corporation will be investing US $15 million equity financing to Shalivahana Green Energy Limited, a biomass power company.

The investment will meet boost the fudning for thecompany's expansion of about 200 Mw of its existing biomass power projects in Chhattisgarh, Jharkhand, Madhya Pradesh, Orissa, and Tamil Nadu.

IFC will also commit to purchase up to 1.5 million Certified Emission Reductions or CERs from energy projects developed by Shalivahana during 2013 to 2020. IFC will pay for a pre-agreed percentage of the spot price of the CERs at the time of delivery, subject to a minimum price.

The company plans to undertake small to medium-sized projects in the biomass, hydro, and wind-energy sectors. Eighty-percent of power generation in India comes from state-owned providers, with most private players focused on large thermal and hydro-power projects.

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