GJ Nature Care & Energy To Invest Rs 1,500 Crore Into Waste-To-Energy Business In India
UK-based Indian entrepreneur Giby George, who promoted GJ Nature Care & Energy (GJNCE) and GJ Eco Power (GJEP), is all set to target the Indian waste-to-energy segment with projected outlay of Rs 1,500 crore within the span of next five years.
The company primarily targets Kerala and other South Indian states where Municipal Solid Waste (MSW) management has been a huge challenge and governments are increasingly welcoming PPP models so as to attract latest global technologies as well as capital infusion to tackle the menace.
GJNCE has already won the global bid for the waste-to-energy project at Brahmapuram‐Kochi which is under DBOFT (Design, Build, Finance, Operate and Transfer) model, with a 20-year timeline and estimated outlay of Rs 300 crore.
The company is in advanced stage of discussions with various governments across the South, including Tamil Nadu and Karnataka for considerably large-scale projects to be established at their major metros.
It is estimated that every day 65 million tonnes of MSW and billions of litres of sewage are generated across the urban areas of India; this is excluding the large quantities of solid and liquid wastes generated by the manufacturing and various other industries.
Ministry of New and Renewable Energy (MNRE) has assessed that there exists a potential of generating 1,700 MW power from urban waste (MSW and sewage) and 1,300 MW from industrial waste; and the 11th five-year plan targets 4,000 MW of power generation from wastes.
Indian Renewable Energy Development Agency (IREDA) estimates indicate that India has so far realized only about 2 per cent of its waste-to-energy potential; and this is offering huge opportunity to proven waste-to-energy technologies to enter India and partner its growth.
"While MSW management solutions are the immediate need of India at large, the country would need advanced technological solutions and capital infusion to drive this mission ahead. We are delighted to note a significant shift in the approach of the governments to embrace PPP models to bring in positive changes to the lives of its citizens without wasting any more time," says Giby George, MD and CEO of GJ Eco Power.
