Two Japanese firms to invest in Rs 260-cr waste-to-energy plant

Last Updated: Sat, Nov 10, 2018 15:49 hrs
Waste to Energy Plant (Image Courtesy: Wikipedia)

Hyderabad: Two Japanese investment firms on Friday announced that they are investing in a Rs 260-crore waste-to-energy plant here.

Takara Leben and Kuni Umi Asset Management will be investing 30 per cent of the Rs 78 crore equity component of the 12-megawatt Nettlinx SV Green.

Nettlinx, an internet infrastructure company, will invest 40 per cent while the remainder 30 per cent will be held by Venkateswar Reddy, Managing Director, SV Green, and other promoters.

The power plant, coming up at Pharma City near Hyderabad, will be operational in 18-24 months. The Greater Hyderabad Municipal Corporation will deliver 700 tonnes of municipal waste daily at the doorsteps of the plant.

Y.V.M. Reddy, project director, SV Green, told reporters that the plant would be built with technical collaboration from Hitachi Zosen.

SV Green will sell the power produced at this plant to Telangana State Southern Power Distribution Company Limited at Rs 7.40 per unit. The company has entered into a power purchase agreement for 30 years.

SV Green also plans to set up 10 more such plants, including three more in Hyderabad, and five in Karnataka over the next five years.

With a total investment of Rs 2,600 crore, these plants will have an installed capacity of 200 MW.