Renewgen Kaduwela Biomass Plant

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Renewgen was developing the 10MW waste-to-energy plant in Kaduwela, Kotte Waste Management Zone. The project company was RenewGEN Environment Protection Kotte Private Limited, in which the local government Waste Management Authority holds an equity share (5%). The project is expected to use 500 MT of municipal solid waste daily. In March 2012, the IFC took an equity stake in the project company - approved by the board in July 2012. The project was awarded via a competitive bidding process. Bids were invited from short listed companies in April 2011, closing in May 2011. The project was awarded in July 2011. Project commissioning was expected for December 2013. The expected life of the facility is 25 years. Output is expected to be sold to the national grid via Ceylon Electricity Board. The project held a 25 year concession under a BOO contract. Hitachi Zosen was the equipment supplier. Project consultant is Ramboll AG. The EPC turn-key contract went to Hyquip Technologies Ltd, from India. Total project cost was reported as US$29 million. Financial closure date was unknown but estimated at February 2012 (25% rule). In March 2012, the IFC provided a package of US$9 million in debt and equity to the project company (IFC Project #31944). Reported here is the most conservative date - July 2012, date of IFC board approval. The coordinates of the project are: 6.9129111 N, 80.0022912 E http://cdm.unfccc.int/filestorage/P/Z/8/PZ8HUSKGCM4WXT2D7Y9F6I5E3V0OJN/PDD%20%28GSP%20Ver%29.pdf?t=ekh8bWV3NzBpfDCKv83-gs1Q3BoioCiwm73c http://www.business-standard.com/india/news/ifc-to-pickstake-in-renewgens-sri-lankan-arm/473204/ http://ifcnet.ifc.org/intranet/clvms.nsf/AttachmentsByTitle/BoardApprovedProjectsFY12/$FILE/FY12ApprovalLog.pdf