Banswara Biomass Energy

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The project envisages the development of a 6-MW biomass power plant in Bagidora Tehsil, Banswara, Rajasthan State. Banswara Biomass Energy Private Limited (BBEPL) is the project company and is promoted by Mr. Siva Prasad Balaraju, Mr. Jayaramaraju Balaraju, Mr. R. K Pandey and Mr. Sridhar Reddy Seelam. BBEPL will be their first Biomass based power plant. BBEPL has signed long-term power purchase agreement for a period of 20 years from the date of COD with Rajasthan Discoms like Ajmer Vidyut Vitran Nigam Limited, Jaipur Vidyut Vitran Nigam Limited and Jodhpur Vidyut Vitran Nigam Limited in March, 2014. The total project cost is Rs.38.45 crore, out of which Rs.26.92 (70%) crore of project term loan provided by Rural Electrification Corporation Limited and balance 11.53 (30%) crore of funding is done through promoter’s equity. UCO Bank has sanctioned Rs. 7.86 crore of working capital credit facilities. Out of the total project cost of Rs. 38.45 crore, BBEPL has incurred Rs. 7.19 crore as on April 19, 2017 which is around 19% of total project cost funded by the promoter’s equity. This date was taken for financial closure proxy. The expected date of start of commercial production is June 2018. BANSWARA BIOMASS ENERGY PRIVATE LIMITED (Factiva)