Blue Sphere Contracts Term Sheet for Biomass Power Projects in Ontario, Canada

Blue Sphere, a clean tech company providing renewable energy integration and emission reduction services, declared that it has contracted a term sheet to build bio-gasification plants to generate renewable energy in Ontario, Canada.

The project comprise of two parts, which includes the construction of three 250 kW power production divisions in Monteville, Ontario and two 500 kW divisions in a place close to Noelville, Ontario. The power production plants at both the places will employ woody biomass as raw material for power generation. The installations at both the sites will be carried out under the feed-in-tariff renewable energy program of Canada. The projects will be benefited by the power purchase agreement (at a higher rate) with local utilities and an accord with local companies for the supply of biomass raw material for a period of 20 years.

The necessary processes required for the issuance of permits for the projects has already begun and the project is anticipated to become functional in 2012.