Revonergy Plc
An independent power producer from renewable energy fuel, has
today announced a MOU with the Ondo State Government of Nigeria, to
build a waste to energy power plant. The 14MW power plant will be fuelled 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 a period of 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
cost of production, create new jobs, boost sales volumes and entice new
investment into the region. Ravi Daswani, CEO said, "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" 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.
