The Chennai-based Ram Charan company on Friday said that it has signed an agreement with Ghana-based Masri Company , which is into power sector, to supply it with units that convert waste to energy with potential to generate 300 MW of power across the country. This deal is valued at $2.2 billion, says a release from Ram Charan.
The execution of the deal is expected to commence in November 2022, with the setting up of units across Ghana over two years. The agreement and delivery of waste to energy services will be executed under the brand name ‘Entity One’.
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Kaushik Palicha, Director, Ram Charan, said in the release, “In keeping with our mission of processing bulk waste to energy without leaving residue, we have successfully signed our first agreement to supply our units to the Masri Company.”
This agreement comes after TFCC International, a deep impact fund, proposed to invest $4.14 billion for a 46 per cent stake in Ram Charan company, which valued the little-known entity at $9 billion. TFCC has justified the high valuation on the grounds that the company had developed a technology to convert unsegregated waste into energy without leaving any residue and also has developed the technology to store the energy for use later.