Wednesday Nov 27, 2024
Wednesday Nov 27, 2024
Wednesday, 2 May 2012 00:01 - - {{hitsCtrl.values.hits}}
The International Finance Corporation (IFC), a member of the World Bank Group, is considering providing a financing package of up to US$ 9 million for a project to convert solid waste to energy in the Western Province.
The IFC in an Environmental and Social Review Summary (ESRS) released last Saturday says that it is considering the financial support to a 10MW waste-to-energy project in the Western Province.
The project will process up to 580 metric tons per day of Municipal Solid Waste (MSW) and will generate up to 10MW of electricity which will be sold to the energy grid in the Western Province. The Ceylon Electricity Board will purchase the power generated from the plant.
The total project cost is estimated at US$ 29 million and the IFC is considering providing US$ 9 million to the developer of the project RenewGen Enviro Ventures India Pvt. Ltd., a developer focused on the waste disposal market in and around 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).
