India: AREVA signs strategic biomass partnership with Astonfield
FINANCE / RENEWABLE ENERGY
July 24, 2009
New Delhi, July 24, 2009
AREVA and Astonfield Renewable Resources Limited have agreed to form a strategic partnership to develop biomass power plants across India, producing a total output of 100 MW at an estimated investment of around €100 million. Work on the first plant is scheduled to begin in the last quarter of 2009 in the state of West Bengal.
Under the terms of the agreement, AREVA's Bioenergy unit in Chennai will be responsible for plant design, construction and commissioning. The group will also co-invest in these projects alongside Astonfield.
The agreement comes as part of AREVA's strategy to strengthen its renewable energy offer, particularly in India and South-East Asia.
Ameet Shah, Co-Chairman of Astonfield Renewable Resources Limited: "Astonfield's commitment to renewable energy involves bringing the world's best technology players to the table. AREVA is a reference in its field and we look forward to continuing this relationship through this and many future successful biomass projects in India."
Anil Srivastava, CEO of AREVA Renewables: "AREVA currently has 100 bioenergy plants in operation or under construction worldwide, and will be putting all of its expertise behind a project of this magnitude.".