Greenko bullish on clean energy projects
Greenko Group Plc, a Hyderabad-based renewable energy developer, owner and operator, has set for itself a target of operating and developing 1,000 MW of clean energy and 100 million Certified Emission Reduction (CER) generations by 2012.“The company secured total production capacity of 137.5 MW, including 90.5 MW of assets operational and due to be commissioned and 47 MW under development, during the previous financial year. By 2010, we plan to have 400 MW in operations and development,” Mr Mahesh Kolli, President and Co-founder, Greenko, told Business Line.He added that 400 MW would be power generated by a combination of small hydro, wind, solar and bio-mass. The company currently has eight clean energy projects operational in various parts of the country and is now looking at alternative sources apart from biomass and hydro. Greenko is listed under AIMs in the London Stock Exchange and currently operates 6 biomass and 2 hydro power projects.“To touch the 1,000 MW capacity levels we are looking at using other technology such as coal gasification, geo thermal and solar,” he said.The company is in talks with a German technology firm for the coal gasification project and has applied for a couple of blocks in Orissa. Mr Kolli said that the process is in its preliminary stage and it is still too early to comment on the nature of these blocks.The company is also planning to own and operate projects that would have an annual generation capacity of 2.5 billion KWH by 2010, thereby reducing upwards of 2 million tonnes of carbon dioxide emissions a year.Greenko is also looking at evolving in technology by developing a platform for trading environmental commodities.
