Clenergen Sees Huge Benefits From the Indian Government's Announcement to Target 10,000MW of Biomass Power Generation by 2020
24 Marzo 2011 - 1:53AM
Marketwired
Clenergen Corporation (OTCQB: CRGE)(FRANKFURT: 9CE) -
The Union Ministry for New and Renewable Energy announced a
target of creating 10,000MW of biomass power generation over the
next 10 years. The government has agreed to establish a biomass
power policy to chart out a roadmap for supporting biomass
generated power within the next 3 months.
http://www.business-standard.com/india/news/govt-eyes-10000-mw-power-generationbiomass/129845/on
Clenergen has spent the last two years working with the
Government to demonstrate the economic and regional benefits for
the direct cultivation of feedstock, in order to guarantee a cost
effective supply of biomass to small biomass power plants, located
in close proximity to the plantations. The business model was
accepted as a tangible way to reduce the country's power shortages,
whilst providing social economic benefits to the rural areas of
India.
The tree and bamboo species which Clenergen has invested over 5
years of research and development have now been identified as being
suitable as dedicated energy crops for degraded lands. The
government has acknowledged that biomass power plants can provide
five times the output of electricity when compared to solar power
plants.
Commenting on the announcement, Mark Quinn, Executive Chairman
of Clenergen said "The decision by the Union government to support
rural electrification projects supported by designated energy crops
is a major decision that has been taken. The establishment of a
government policy for biomass and utilization of government owned
degraded land will allow Clenergen to compete with wind and solar
power, as a viable and profitable alternative source of renewable
energy on a large scale. This will have a major impact on our
business in India".
About Clenergen Corporation
Clenergen Corporation is a publicly-traded company with its
common stock quoted in the USA on the OTCQB Market (Symbol: CRGE)
and in Germany on the First Quotation Board, Open Market of the
Frankfurt Stock Exchange (Symbol: 9CE) Clenergen offers strategic
clean energy generation and supply of biomass feedstock to address
the requirement for renewable and sustainable supplies of
electricity. Clenergen has developed a unique modular system for
gasification and localized plantation management. Clenergen also
plans to provide biomass feedstock for producing wood pellets for
co firing with coal to produce low emission electricity.
Clenergen Corporation uses biomass feedstock to implement
sustainable supplies of clean energy for captive end users,
islands, mining companies, government or privately-owned power grid
systems and other end users. The "Distributed Environmental Power
System" marries significant proprietary advancements in plant
science with proven long standing engineering technologies to
achieve this goal. For further information on Clenergen Corporation
and its products and services, go to: www.clenergen.com.
Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 (the
"Securities Act") and Section 21E of the Securities Exchange Act of
1934 (the "Exchange Act"). To the extent that any statements made
in this press release contain information that is not historical,
these statements are essentially forward-looking. Forward-looking
statements can be identified by the use of words such as "expect,"
"plan," "will," "may," "anticipate," "believe," "should," "intend,"
"estimate," and variations of such words. Forward-looking
statements are subject to risks and uncertainties that cannot be
predicted or quantified and, consequently, actual results may
differ materially from those expressed or implied by such
forward-looking statements. Such risks and uncertainties include,
without limitation, those risks and uncertainties contained in this
press release and those identified in the periodic reports that the
company files with the Securities and Exchange Commission (the
"SEC") pursuant to the Exchange Act.
Contacts: Clenergen Corporation Mark LM Quinn 0044 (0)207 739
0028 mquinn@clenergen.com www.clenergen.com
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