RenewGen

pending

RenewGen Enviro Ventures India Pvt. Ltd. is a developer focused on the waste disposal market in and around South Asia. In order to facilitate the development and operation of such projects in the region, the decision has been taken to establish a holding company, as the Sponsor, in Singapore. The Sponsor would hold a portfolio of waste disposal and waste to energy projects in South Asia. The developer has secured the first competitively awarded Waste to Energy concession in Sri Lanka from the Waste Management Authority of the Western Province in Sri Lanka (WMA). The project is a 25 year concession to build own and operate a 10MW waste to energy project in the Western Province of Sri Lanka. The project will process up to 580MT/day of municipal solid waste (MSW) and will generate up to 10MW of electricity which will be sold to the grid. The concession will be undertaken by Renewgen Environment Protection Kotte Pvt Ltd (“Renewgen Kotte” or “Company”), a company incorporated in Sri Lanka. The Ceylon Electricity Board will off-take the power generated from the plant. The project will use a highly proven (deployed in over 400 plants worldwide) grate based mass incineration technology that is suitable for unsorted MSW in conjunction with advanced emission control systems. The Company will use grate based mass incineration technology (suitable for unsorted MSW) and has tied up with Hitachi Zosen to be the technology partner. The technology is the most widely deployed and commercially proven globally (60% global market share) and Hitachi Zosen is a global leader in the WTE segment with a strong presence in both Europe and Asia having executed more than 450 WTE plants worldwide. The project consultant is Ramboll AG, a leading European engineering firm with experience in over 50 WTE plants, and will be responsible for advisory (concept to commissioning) and project management during execution. The EPC turnkey contractor is Hyquip Technologies Ltd., an Indian EPC company based in Hyderabad, India, which has extensive experience in working on power plants using biomass as feedstock.The total project cost is estimated at US$ 29 million. IFC is considering providing a financing package of up to US$ 9 million consisting of equity (IFC Project #31944) and debt (IFC Project #32295) at both the Sponsor and Company level.