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Power Finance Corporation (PFC) has started lending for Waste to Energy (WTE) projects.
A company statement said that PFC has lent Rs 290 crore to the country’s largest operational 24-MW WTE project, being operated by Ramky Group in Bawana Industrial Area of Delhi.
“This plant was commissioned in 2017 and is the third WTE plant of Delhi. It is a part of a 2,000 TPD integrated municipal solid waste management system which includes door to door collection, segregation and transportation of municipal waste from North Delhi, its subsequent processing and disposal. This plant alone handles about 20 per cent of Delhi’s municipal solid waste,” the PFC statement said.
After the waste reaches the processing plant, compost is prepared from the organic portion and after processing, the remaining waste is combusted in the WTE boiler to produce electricity, which is sold through power purchase agreements (PPAs) to Delhi Discoms.
The plant has a unique revenue model with “tipping fee” being paid by North Delhi Municipal Corporation for garbage collection, along with revenue from sale of power and compost, the statement added.
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