Under the terms of the agreement, AREVA’s Bioenergy unit in Chennai will be responsible for plant design, construction and commissioning. The group will also co-invest in these projects alongside Astonfield. In addition, AREVA offers its customers assistance in getting the most out of carbon credits including the offer to buy back the voluntary carbon credits generated by the project .

The agreement between Astonfield and AREVA to build on the first 100 MW will attract an unprecedented amount of investment interest to the biomass sector in India, requiring approximately Rs 550 - 630 crores of capital expenditures. This partnership will lead to the creation of hundreds of new jobs in the renewable energy sector over the next three years.

The EPC agreement between Astonfield and AREVA allows Astonfield to focus its leading project development organization and capabilities to continue to build its project pipeline and deliver “shovel ready” projects complete with Power Purchase Agreements (PPAs), project financing, land and permits. Astonfield will also contribute its team’s over 100 years of experience in building power plants in the Indian landscape.

This agreement is part of AREVA’s long-term strategy to broaden the group’s CO2 - free power generation offer through a rich portfolio of renewable energy technologies, providing engineering services, co-investment and financing solutions. The group will be making a major push in India and South East Asia under its drive to further expand its worldwide renewable energy business, particularly in the area of concentrated solar power.

“We will bring our worldwide expertise of 100 bioenergy plants in operation or under construction, which represents more than 2800 MW of installed capacity and reduces 3 million metric tons of CO2 - equivalent emissions each year”. –Mr. Anil Srivastava, CEO of Areva Renewables.

AREVA offers its customers assistance in getting the most out of carbon credits including the offer to buy back the voluntary carbon credits generated by the project.


The first project slated to come online will be a 10 MW project based in Gangarampur, West Bengal, which will begin construction in Q4 of 2009.

For more details http://www.indiaprwire.com/pressrelease/oil-energy/2009072430073.htm click here.