Clenergen Corp. (CRGE.OB) Aiming For Over 80 Megawatts of Power in India
QualityStocks (November 3rd, 2009) Writes:
Clenergen Corp., biomass power developer, recently announced that it has entered into a 15-year power purchase agreement with PTC India Ltd. The agreement is through Clenergen’s wholly owned subsidiary, Clenergen India. PTC India, a public-private partnership company, is the leading provider of power trading solutions in India, and is focused on developing a commercially vibrant power market in the country.
Clenergen currently has plantations in the Tuticorin and Tirunelveli districts in southern India, totaling 4,000 acres, of which 1,200 acres are earmarked for cultivation of bamboo and 2,800 acres for paulownia, two carefully researched and chosen biomass crops. The company plans to lease a total of 16,000 acres for biomass plantations in India, supplying various power plants operating on gasification technology.
Clenergen CEO, Mark Quinn, indicated that the first of the power plants has already started operation in Tuticorin. The 1.5 megawatt
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