December 02, 2008

Greenko acquires rights for 4 hydro projects in Karnataka

It is reported that Greenko Group Plc has acquired rights for four hydro projects in Karnataka and will invest EUR 36 million for their development. The four hydro projects include

1. Sonna – 10.5 MW
2. Kallur – 16 MW
3. Joladadagi – 16 MW
4. Dinnekere – 2 MW

Sonna Hydel project is likely to be commissioned March 2009 and is expected to generate 23,500 tonnes per annum of CER. The plant will sell electricity to the Karnataka state grid under a long term power purchase agreement with Hubli ESCOM. The electricity from Kallur, Joladadagi and Dinnekere mini hydro schemes will be sold at premium prices either through an agreement with power trading companies or direct to industrial end users.