November 3, 2010, CHENNAI, INDIA -(Coal Geology) Clenergen Corporation’s (OTCQB: CRGE)(FRANKFURT: 9CE) 18 MW biomass combustion steam technology plant situated in Tamil Nadu, India has entered commenced full power generation on a 24/7 basis.
Clenergen India Private Limited took control of the 18 MW biomass plant in early October this year. Repairs were conducted and maximum capacity was achieved upon the successful launch. The 18 MW biomass plant uses combustion steam technology to generate power. The process is a low carbon emission, because 90% of the carbon dioxide that would have been emitted would be already captured by the feedstock being combusted.
The 18 MW biomass plant had commenced transmission of power to the grid since its synchronization on 23rd October 2010. Currently short term power tariffs range from 12-22 cents per KW/h, however all sales from December 2010-January 2011 is expected to be with PTC India Limited, as Clenergen has an existing 15 year Power Purchase Agreement with PTC India Ltd where the average tariff which is likely to be 14 cents per KW/h, with guaranteed payments each month.
At the projected 80% Plant Load Factor, Clenergen will be able to generate 345,000 KW/h per day which will fetch potential annual revenue of around US$15 million. Clenergen will seek to register the project with UNFCCC as a CDM project and thus leverage the carbon credits generated from the project to increase its top line by the sale of carbon credits.
Commenting on the development, Mark Quinn, Executive Chairman of Clenergen Corporation, said “the commencement of power transmission at our 18MW/h biomass plant right on schedule marks a huge stride towards our operational goals. It gives a big boost to the other strategic initiatives that we have taken elsewhere and moves Clenergen into being a revenue generating company.”
About Clenergen Corporation
Clenergen Corporation is a publicly-traded company with its common stock quoted on the Over-the-Counter-Bulletin Board (OTCQB: CRGE)(FRANKFURT: 9CE). Clenergen offers strategic clean energy generation and supply of biomass feedstock to address the requirement for renewable and sustainable supplies of electricity. Clenergen has developed a unique modular system for gasification and localized plantation management. Clenergen also plans to provide biomass feedstock for producing wood pellets for co firing with coal to produce low emission electricity.
Clenergen Corporation intends to use proprietary and mixed biomass feedstock to implement sustainable supplies of clean energy for captive end users, islands, mining companies, government or privately owned power grid systems and other end users. The “Distributed Environmental Power System” marries significant proprietary advancements in plant science with proven long standing engineering technologies to achieve this goal. For further information on Clenergen Corporation and its products and services, go to: www.clenergen.com.
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