Geography: India
Capital commitment to-date: USD 7.0 million
Sector: Bio-Resources; Agricultural Waste
Platform established: 2011
Relevant team members: Devin Narang, Managing Director, Co-Generation and Umesh Sahdev, Vice Chairman, Sindicatum India
Sindicatum Captive Energy, a Sindicatum company, is engaged on the development of 300MW or more bagasse co-generation capacity in India.
Bagasse, a fibrous by-product of the sugarcane milling process, has traditionally been used as a fuel by sugar mills to generate steam and power solely for internal sugar process use. Sindicatum believes that through the modernization of sugar mills and installation of new power generating equipment, bagasse can be better utilized, satisfying internal steam and power requirements whilst producing excess power for export to the grid. Unlike typical biomass power plants, the bagasse provided by the sugar mill’s operations is “captive”, greatly reducing exposure to biomass price and quantity risk.
Currently, Sindicatum has 130 MW co-generation capacity in development with two partner sugar milling companies and the Company believes ongoing discussions with other leading sugar mills could lead to an additional 300 MW being contracted. Owing to the large potential for renewable power generation combined with the availability of captive bagasse fuel at the mills, Sindicatum considers the Indian sugar sector an attractive platform for building a leading biomass business in India.
For further information on Sindicatum Captive Energy, please contact Assaad Razzouk (assaad.razzouk@sindicatum.com), Devin Narang (devin.narang@sindicatum.com) or Umesh Sahdev (umesh.sahdev@sindicatum.com).