Revonergy to Build Waste to Energy Plant in Nigeria
United Kingdom, London, 20 May 2008 -- Revonergy Plc, an independent power producer from renewable energy fuel, has today announced a memorandum or understanding with the Ondo State Government of Nigeria, to build a waste to energy power plant.
The 14MW power plant will be fueled by wood waste and sawdust that is generated from the sawmill industry. The electricity that is produced will
be supplied directly to the sawmills and excess electricity will be sold to
the national grid on a long-term power purchase agreement basis.
The sawmill industry in Ondo State Nigeria, currently suffers from chronic power shortage and frequent periods of blackout. The sawmill industry is
dependent upon diesel generators for their electricity requirements. High
diesel costs result in high wood processing costs for the operators. The
large amount of sawdust and wood waste that is generated by the industry is dumped around the nearby areas. Over time, the wood waste decomposes and emits methane gas, a type of green house gas that is about 21 times more harmful to the environment then carbon dioxide.
Ravi Daswani, CEO of Revonergy Plc said, "Wood waste and sawdust is a natural waste product of the sawmill industry. The power plant will use wood waste and sawdust to produce clean electricity, which will be supplied to the industry and the community. A previously discarded waste product will be the main source of much needed electricity to the industry".
The supply of constant electricity to the sawmill industry will lower costs of production, create new jobs, boost sales volumes, and entice new investment into the region.
"We have completed the technical and feasibility studies of this project. We are now looking at synergistic waste to energy projects in other parts of Africa and are in discussions with reputable African and European financial institutions for the financing of these projects," Daswani said.
Revonergy Plc is headquartered in London, England, with offices in Hong Kong (China), Nigeria, and South Africa. It is a rapidly growing independent power producer that builds and owns renewable energy power plants in emerging markets.