VayuGrid signs MOU for community-based biofuel projects

March 5, 2015 |

In India, Bangalore-based enterprise VayuGrid engaged in building affordable Bioenergy supply chains announced that they have entered into an Memorandum of Understanding (MoU) with New Renewable Energy Development Corporation of AP (NREDCAP) for the State of Andhra Pradesh to develop Panchayat level Bio Energy Zones ( BEZs) for green power generation including the power generation facilities, the Bioenergy Green Coal Plantation supply chain, and the Biofuel processing infrastructure necessary to meet the low cost production of clean energy. Each of these panchayat level BEZs established on wastelands are optimized to generate 10 Mw and 14 million liters of biodiesel, along with nearly 1,400 farm labor jobs through the 60-year productive life of the BEZ.

Each wasteland based BEZ will attract investment of $0 million, which will be brought in by VayuGrid along with its partners. Additionally, each cluster becomes a huge carbon sink, sequestering nearly 30,000 tons of carbon annually, thus making each BEZ eligible for Carbon Credit and become a significant player in the Cap & Trade scheme, leading the pollution regulation market even while the State aims for fast and speedier economic growth.

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