Jan 24 2011
Reliance Venture Asset Management has proclaimed that a Series A funding has been completed for the AllGreen Energy’s Biomass Project located in Perundurai. This is RVAM’s first investment in the Clean Tech sector.
A company also provided funding for the project, which was an affiliate of General Electric. AllGreen has plans of establishing several biomass Renewable Energy (RE) projects in India during the next decade. The Perundurai project would include three J620 Jenbacher gas engines developed by GE and would have a total generation capacity of 6.4 MW.
According to Harshal J Shah, RVAM’s CEO, there is a great demand for RE Power in India and to meet this demand, AllGreen plans to set up 100 MW of biomass plants beginning with the 6.4 MW Perundurai Project, which would be India’s major biomass integrated gasification power-based plant.
AllGreen Energy’s CEO and Chairman Kamlesh Tejwani, revealed that the company was utilizing gasification technology in contrast to the conventional combustion technology used by all other plants. The main benefit would be the added 25-30% efficiency obtained. He revealed that for the same amount of biomass input into the plant, a lot more power would be obtained as output.